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Cable: Asia open $1.2822, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.2822, range $1.2805-27. Europe open
$1.2815, range $1.2792-1.2833.
* Eur/Gbp: Asia open Gbp0.9173, range Gbp0.91725-0.9177. Europe open Gbp0.9176,
range Gbp0.91615-0.9214.
* Cable recovered off its Tuesday low of $1.2810 to $1.2846 before it closed
around $1.2822.
* Sterling was seen on the defensive through Tuesday trade, evidenced by Eur/Gbp
extending recent gains to Gbp0.9176.
* Cable eased to $1.2805 early Asia then recovered to $1.2827 on Trump comments
but struggled to hold gains.
* Rate drifted to $1.2815 into Europe before it edged up to $1.2833 as Eur/Gbp
eased to Gbp0.91615.
* Strong Eur rally, prompted by strong German Mfg PMI data, took Eur/Gbp through
Gbp0.9200 and on to Gbp0.9214.
* Move dropped cable down to $1.2792 with recovery effort seen labored back
above $1.2800.
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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