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BOE MPC kept rates unchanged at.......>

EURO-STERLING
MNI (London)
EURO-STERLING: BOE MPC kept rates unchanged at Thursday's 'live' meeting and
prompted a spike higher in sterling (though charts would suggest a false start
by some), the demand pressed EUR/GBP down to Gbp0.8412, recovered to Gbp0.8437
before it settled around Gbp0.8425. Sterling retained a firm tone through Asia,
the cross able to drift back to Gbp0.8415 into Europe before coming under
heavier sales. Rate has extended react lows to Gbp0.8400, currently around
Gbp0.8404. The move back below the 10-dma(currently at Gbp0.8464) has exposed
the base of its 1.0% 10-dma envelope, which by time has eased to Gbp0.8380.
Interim support seen at Gbp0.8400 ahead of recent low of Gbp0.8388. Resistance
Gbp0.8437 ahead of Gbp0.8464. 
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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