0759 GMT [Dow Jones] Stopped out of its 1.6745 short at 1.68, the U.S. bank is now looking to buy on any dip to 1.6770 to target 1.71, with a stop at 1.6670. It has changed its view on sterling given recent UK data strength, especially in the housing sector, but hopes today' trade numbers may provide a window of sterling weakness in which to establish its new strategy. Consensus for the April trade gap (0830 GMT) is GBP1.5 billion from GBP1.2 billion in March. GBP/USD now at 1.6812. gary.stride@wsj.com
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(END) Dow Jones Newswires
June 06, 2014 03:59 ET (07:59 GMT)
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