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Cable: Asia open $1.2860, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.2860, range $1.2860-79. Europe open
$1.2877, range $1.2851-77.
* Eur/Gbp: Asia open Gbp0.9135, range Gbp0.9127-0.91355. Europe open Gbp0.9126,
range Gbp0.91195-0.9134.
* Cable recovered off Friday low of $1.2832 to $1.2886 ahead of the close.
* Rate was pressed down to $1.2860 in opening Asian trade, recovered to $1.2879.
* Rate eased to $1.2865 before it settled close to its earlier high into Europe.
* Eur/Gbp eased from its Friday high of Gbp0.9149 to Gbp0.9127, settled around
Gbp0.9130 into close.
* Cross was confined to a tight Gbp0.9127-0.91355 Asian range, favored the base
into Europe.
* Cross Jpy sales in early Europe squeezed cable down to $1.2851 via Gbp/Jpy but
Eur/Gbp easing provided some counter. 
* Cable recovered to $1.2876 and remained buoyed as the cross extended lows to
Gbp0.91195. 
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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