GBP/USD - 1.5202.. Although cable rose in tandem with euro at Asian opening as st specs bot sterling (n euro) on stop-hunting, price penetrated 1.5204 NY high n climbed to 1.5240 b4 retreating on profit-taking. Market has not reacted to comments by Irish Fin. Minister y'day on Bloomberg TV following reports of a massive losses of 12.7 bln euro (see Times for details).
Offers are reported at 1.5220-40 area n a mixture of bids n stops are touted near 1.5170/75. Choppy trading is expected today n beware of long liquidation (st specs) ahead of Easter holiday.