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Bounce back, off the earlier Asian....>

EURO-STERLING
MNI (London)
EURO-STERLING: Bounce back, off the earlier Asian low of Gbp0.8804, managed to
extend to Gbp0.8826 before momentum faded. Suggestions of end month flow behind
the recovery, sterling was noticeably remained buoyant vs other currencies.
Cross currently trades around Gbp0.8814. End month models suggest cable demand
to be seen at fixes, but traders aware that counter RHS demand in Eur/Gbp could
emerge. Cross support remains at Gbp0.8804 through to the 200-dma at Gb0.8795.
Resistance remains toward the earlier Asian high of Gbp0.88375. 
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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