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Cable: Asia open $1.2963, range....>

MNI (London)
STERLING SUMMARY: Cable: Asia open $1.2963, range $1.2954-68. Europe open
$1.2964, range $1.2910-70.
* Eur/Gbp: Asia open Gbp0.9087, range Gbp0.9087-0.90905. Europe open Gbp0.9085,
range Gbp0.90525-0.9105.
* Fairly subdued Asian session for sterling, cable contained by $1.2954-68,
cross Gbp0.9087-0.90905. 
* NK National Day and no provocative action seen, prompted some risk appetite;
Jpy softer.
* Cable touched a high of $1.2970 early Europe before it was dragged lower by
Eur/Usd slippage. 
* Part of this weight was diverted over to Eur/Gbp as the cross was pressed down
to Gbp0.90525. 
* Eventual break of Friday low of $1.2939 saw rate touch $1.2930 then bounced to
$1.2958 ahead of UK CPI.
* Miss in CPI dropped cable to $1.2910, spiked cross to Gbp0.91035.
* Cable recovered to $1.2926 but sterling was back under pressure late morning. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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