Early Friday`s deals came amid a lack of data from the British economy. The euro-zone service PMI data for April and the retail sales figures for March were the key releases in the session.
Japan observed another holiday on Friday leaving its markets closed for the second day in a row.
At 8:30 am ET, the US employment data is expected. The change in non-farm pay rolls is expected to hit 100k in April, while the unemployment rate to increase from 4.4% in March to 4.5% in the current month.
By late morning, New York Federal Reserve President Timothy Geithner is expected to speak on global economy in Montreal and Kansas City Fed President Hoenig, at a conference in Santa Fe.
The pound moved sideways against the dollar to the early deals on Friday in New York. Edging higher off the range, the pair fetched 1.9888 at 3:10 am ET, but dropped off after that. At 3:55 am ET, the sterling collected as low as 1.9844 dollars before bouncing back. Of late, the pair is moving sideways between 1.9855 and 1.9875. Early Friday`s trend confirms the downtrend started by the pair on Tuesday. Hitting as low as 1.9856 on Thursday, the pair broke a near-term support around 1.9865, which was tested on 27th April.
The sterling weakened against the euro early Friday in New York. At about 1:00 am ET, the pair rose from 0.6810, and it collected as high as 0.6835 at 4:45 am ET. Of late, the pair dropped a few pips and entered a sideways movement. At 6:30 am ET, the pair traded at 0.6826. Broadly speaking, the pound has been moving sideways with the euro since 27th April. The pair settled into this range following an upward journey that started on 18th.
The British currency saw uncertain trading early Friday in New York. The pair largely bounced around between 238.83 and 239.19 during the session. Uncertainty in trading is likely being caused by an absence of data from both the economies. Largely, from Tuesday, the pair has been trading sideways slightly below 240 mark. The pound collected as high as 240.11 yen on 30th January, before this.
The pound ticked up against the franc into the very early deals on Friday in New York, but it fell off from a session`s high of 2.4171, which was collected at about 1:20 am ET. However, the pair started rebounding at 4:45 am, and climbing from 2.4106 the sterling equaled 2.4157 francs at 6:30 am ET. Broadly speaking, from the third week of April, the cable has been seeing choppy trading versus the Swiss currency bouncing around between 2.40 and 2.43.
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