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Cable: Asia open $1.2895, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.2895, range $1.2880-1.2946. Europe open
$1.2879, range $1.2876-1.2909.
* Eur/Gbp: Asia open Gbp0.9240, range Gbp0.9236-64. Europe open Gbp0.9256,
Gbp0.9245-64.
* ECB Draghi comments on EZ growth, and no mention of Eur strength saw Eur/Gbp
propelled to Gbp0.9266 into Friday's close.
* Move placed a counter on cable's attempt to keep pace with Eur/Usd's stronger
rally, rate capped at $1.2889.
* Opening Asia allowed cable to play catch up, rate spiked to $1.2946 as the
cross sank back to Gbp0.9236.
* Cable pared those early gains through the balance of the session, rate drifted
off to $1.2880 into Europe.
* Cable extended low to $1.2876 then recovered to $1.2909 as Eur/Gbp was
rejected again from Gbp0.9264. 
* Cable dropped back to $1.2884 but was able to settle back above $1.2900 late
Europe morning. 
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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