Eur/Gbp resumes its relentless decline after a tame bounce to...

Eur/Gbp resumes its relentless decline after a tame bounce to 0.8700 and is now sub-0.8670. Elsewhere, the Aussie is back over 0.7750 vs its US counterpart and edging nearer 1.0800 against its Antipodean rival in wake of a somewhat mixed labour report in terms of outward appearance, but with internals better than the headline and jobless rate encouraging. Sterling has bounced firmly with Cable retesting resistance above 1.3900, partly on the back of a broad Buck downturn that has culminated in the index reversing further from Wednesday’s 91.057 pinnacle to 90.685 and back near the 21 DMA (90.658 today) which now forms support ahead of 90.500. However, the Pound is also up on favourable cross.