FX UPDATE
EUR/USD continues to consolidate within tight ranges - 1.4145-1.4155, having sold off from new highs at 1.4189 made early in the NY session. CABLE is drifting higher, albeit at a slow pace with hourly tests of 2.2260 capping the action for much of the session. USD/JPY is making a stab higher this afternoon testing the 115.70 level at this writing. GBP/EUR is pushing a bit higher this afternoon after weeks on continued sharp losses. This afternoon’s retracement may turn around behind a Fidelity Fund manager’s prediction U.K. equities are headed into a perhaps 9 month bear market- this despite FTSE climbing back over its 200 day moving average