Weak USD to the start of trading

<p>After an eventful week last week for the pound, with Scotland staying part of the United Kingdom,  the pound has stabilised around just above the […]</p>

After an eventful week last week for the pound, with Scotland staying part of the United Kingdom,  the pound has stabilised around just above the 1.63 handle for now, as the long positions were cut on Friday after the outcome was announced.

This week for the pound there are no major events but some mid-level data to be released.

The euro has bounced off its lows of the year just sitting above the 1.2850 level, as a generally weak US dollar has started off today.  Today the ECB’s Mario Draghi is speaking and, as always with his speeches, there could be a lot of action involved regarding low inflation in the Eurozone and the latest cut in rates.

USD/JPY has dropped below the 109.00 level and seems to be the general weakness in the USD so far today, with existing US homes sales out later- the only data of note today.



Supports 1.2850-1.2825-1.2800  | Resistance 1.2870-1.2880-1.2890



Supports 108.75-108.60-108.30  Resistance 109.00-109.30-109.45



Supports 1.6320-1.6300-1.6282  Resistance 1.6370-1.6400-1.6480



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