Sell interest is noted at 1.9475 a couple of pips above the intra-day peak scaled earlier today. Further offers are flagged at 1.9490 and 1.9500/10. 1.9505 was Friday's two-week top.
1.9550 is among touted bull targets north of 1.9510/15. 1.9550 approximates to a 50% Fibo retracement point of the fall from 1.9917 (Jan 23, 15-year high) to 1.9185 (March 5 low). Sterling support points include 1.9435 (today's Asian session top), 1.9400, and 1.9381 (today's Asian session base).
March's NAHB US housing market index will be revealed at 17:00GMT. Forecast: 38, from 40 in February. Tomorrow's key UK event risk is the 09:30 disclosure of February inflation figures. Annualized CPI is forecast at 2.7%, unchanged from January.
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