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Cable: Asia open $1.2955, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.2955, range $1.2940-68. Europe open
$1.2952, Range $1.2930-59.
* Eur/Gbp: Asia open Gbp0.9160, range Gbp0.9160-75. Europe open Gbp0.9174, range
Gbp0.9172-0.9218.
* N.Korea weekend nuclear test prompted risk off plays into the early Asia open.
* Cable closed in NY at $1.2941, opened Asia $1.2955 the dipped to $1.2940 on
risk react.
* Rate recovered as Tokyo walked in, risk off positions pared which took cable
to $1.2968.
* Rate slowly drifted off into the Asian afternoon, settled between $1.2950/55
into Europe.
* Cable edged to $1.2959 early Europe then dropped to retest the Asia low at
$1.2940. 
* Cable was pressed to $1.2930 late morning as Eur/Gbp tracked Eur/Usd rally.
* Cross extended recovery off Friday low of Gbp0.9150 to Gbp0.9218 then settled
back under Gbp0.92 late 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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