EUR/GBP stabilized between stg0.8585/90

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9 March 2011

EUR/GBP stabilized between stg0.8585/90

Settles between stg0.8585/90, after recovering from earlier posted lows at stg0.8565. Move up seen as cable lagged euro-dollar's react to reports of ECB buying peripheral eurozone bonds. Offers seen placed between stg0.8605/15, a break to open a move back toward recent highs at stg0.8635. Support remains in place at stg0.8565/60.

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