Tripped stops above 1.9800 helped inflate cable to a new intra-day high of 1.9811, as EUR/USD scaled a 27-month peak just north of 1.3500. Sterling sell interest is noted at 1.982,a couple of pips above yesterday's eight-day top, and 1.9825, a couple of pips above last week"s 10-week peak (Apr 3).
1.9790 (early Europe high) is now a support point. Lower props include 1.9767 (today's Asian session top) and 1.9734 (yesterday's post-FOMC minutes low). Looking ahead to tomorrow: BoE Deputy Governor John Gieve is slated to speak in the Midlands at 11:45GMT. Gieve voted in favour of January's 25bp UK base rate hike to 5.25%.
He then voted for no rate change in February and March. Minutes from this month's MPC meeting will be published next Wednesday (Apr 18). The next MPC meeting is on May 9/10.
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