Asia open $1.3386, range...........>

STERLING SUMMARY: Asia open $1.3386, range $1.3386-1.3402. Europe open $1.3391,

range $1.33.

* Eur/Gbp: NY range Gbp0.88345-0.8868. Asia open Gbp0.8840, range Gbp0.8840-43.

Europe open Gbp0.8846.

* Cable recovered off its traded low of $1.3331 Tuesday to $1.3390 in NY as

sterling took advantage of a generally softer Usd. 

* Early Asia continued to meet resistance at $1.3390 but eventual break allowed

rate to edge on to $1.3402(matched Tuesday high).

* Rate settled back around $1.3390 into Europe. 

* Cross marked a low of Gbp0.8835 in Asia then recovered, the move extended in

Europe to Gbp0.88545. 

* As Eur demand faded the cross eased to a fresh low of Gbp0.88295, allowed

cable to clear $1.3402 as it edged to $1.3413.

* Report in Asia that BOE to unveil plans to allow European banks to operate in

the UK as normal post-Brexit buoyed sterling.

* Cable remained firm late morning.