The sterling has slightly gained against the euro and the franc in the recent deals, while it remained uncertain about its direction versus the greenback and the yen. The recent deals came amid the release of the British May producer prices data, which gave out results in line with the economists` expectations.
The British currency saw choppy trading against the greenback during the Asian and the European sessions on Monday. The sterling bounced between 1.965 and 1.968 in the period. If the pair breaks this range, immediate targets may be around 1.962 and 1.970 downside and upside, respectively.
The British currency trended slightly lower against the euro during the late night deals on Sunday, but the pair moved in the opposite direction during the overnight deals. Rising from 0.679, the pair has lately traded near 0.677. If it strengthens further, 0.676 will be a likely level of resistance in near term. The British data, which was released at 4:30 am ET, has not resulted in major price effects in the pair.
The pound moved in a loose range against the Japanese yen during late New York trading on Sunday and in the overnight deals on Monday. The pair largely bounced between 239.55 and 238.90 in this time period. The British data, which was released at 4:30 am ET, has had very little price effects on the pair, and the immediate support and resistance levels are seen at 238.0 and 240.0 respectively.
The pound sterling moved in a loose range against the Swiss franc during late New York Sunday and in the overnight deals on Monday. The pair was limited between 2.430 and 2.434 in this time period, but it has lately moved out of the range amid the British May factory gate inflation data. The pair strengthened to 2.435 amid an inline data, and is likely targeting 2.439 in near term.
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