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Cable: Asia open $1.2867, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.2867, range $1.2860-73. Europe open
$1.2872, range $1.2842-1.2903.
* Eur/Gbp: Asia open Gbp0.9125, range Gbp0.9120-25. Europe open Gbp0.9123, range
Gbp0.9084-0.9144.
* Another session of consolidation in Asia, cable held by $1.2860-73,
Eur/Gbp0.9120-25.
* Cable was pressed down to $1.2850 in early Europe, recovered to $1.2878 then
dropped to $1.2842.
* Move down influenced as Eur/Jpy demand took Eur/Gbp to Gbp0.9144.
* ECB source story reversed Eur/Gbp back toward Gbp0.9100 before strong UK Jobs
data extended move to Gbp0.9084.
* Cable rallied from around $1.2855 to $1.2903 and was holding most of these
gains late morning.
* Eur/Gbp recovered to hold above Gbp0.9100 late morning as rate tracked general
Eur recovery. 
* US Housing data 1230GMT, FOMC Minutes at 1800GMT.   
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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