Free Trial

Cable: Asia open $1.2804, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.2804, range $1.2797-1.2810. Europe open
$1.2810, range $1.2794-1.2817. 
* Eur/Gbp: Asia open Gbp0.9210, range Gbp0.92045-0.9220. Europe open Gbp0.9210,
range Gbp0.9195-0.9213.
* Cable slowly edged higher through Asia from an early low of $1.2797 to
$1.2810. Held firm into Europe.
* Eur/Gbp managed to extend its corrective pullback from Wednesday high of
Gbp0.92365 to Gbp0.9189 Thursday.
* Cross pared losses in NY, edged to Gbp0.9231 then settled around Gbp0.9220
into close.
* Rate touched an early high of Gbp0.9222 in Asia then extended easing to
Gbp0.9205 before it settled around Gbp0.9210 into Europe.
* Cable extended recovery to $1.2813 early Europe, as Eur/Gbp dipped to
Gbp0.91975. 
* Cable dropped back to $1.2796 then rallied late morning to $1.2820.
* Resistance seen into $1.2840, stops on break. Support $1.2790/70.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.