After the much hyped month-end demand got.....>

CABLE: After the much hyped month-end demand got cable to a high Tuesday of

$1.3173 the rate suffered a sharp reversal on USD demand which squeezed rate to

a low of $1.3090 ahead of the month-end fix. Rate managed to recover, held

around $1.3130 into the close. Attention was seen switching to today's FOMC on

Tuesday with USD demand acting to press cable to an extended low of $1.3102

ahead of the European open before early Europe eased it on to $1.3097. Rate has

since settled back around $1.3100. Residual month-end EUR/GBP demand could still

be influencing, rate edging up to GBp0.8916 from its Asia low of Gbp0.8905, the

move acting to keep downside pressure on cable. Support seen into $1.3090 ahead

of $1.3084/83 (Jul30 low/Jul27 low) and the Jul24 low of $1.3072. Release of UK

Mfg PMI due at 0830GMT, market median 54.2 vs 54.4 last, which if proves correct

not expected to affect GDP outlook.