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Asia consolidated Wednesday's sterling........>

CABLE
MNI (London)
CABLE: Asia consolidated Wednesday's sterling rise, the pound making decent
recovery gains in reaction to EU Barnier comments of a possible unique
partnership between UK-EU after Brexit, cable traded within a range of
$1.3022-39, slightly extending the high seen yesterday of $1.3033. Fresh
comments from EU Barnier, reported this morning, that we cannot use the word
success to regard Brexit and that no-deal remains part of the EU's planning
provided some dampener to Wednesday's comments and eased cable down to $1.3014,
though this was tempered as he added that a solution is possible to avoid a hard
Irish border. Rate currently trades back within the earlier range at $1.3025.
Brexit headlines remain a key driver in sterling pairs and market will be on
watch for developments. UK Money Supply/Credit data due at 0830GMT. Cable
expected to meet headwind resistance toward $1.3060, support now seen into
$1.3000. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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