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

STERLING SUMMARY
MNI (London)
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.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MarketsForeign Exchange Bullets

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