Rate pressures up to within striking distance of 1.5000 overnight; likely offers will be thick on any further advance. Aggressive traders can look to lighten up on longs above
1.4950 area. Stops noted above the 1.4880 area on the way up with traders noting stops under there on the way down.
Rate makes lows after the fix but holds support to bounce back onto the 1.4700 handle. Traders note support is likely firm at the 1.4450 area as expected; offers ahead of 1.4700 easily absorbed keeping the bias to the upside. Close over 1.4900 argues for further gains but tech resistance is firm ahead of 1.5000.