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Free AccessCable: Asia open $1.3008, range....>
STERLING SUMMARY: Cable: Asia open $1.3008, range $1.3000-22. Europe open
$1.3007, range $1.2975-1.3017.
* Eur/Gbp: Asia open Gbp0.9092, range Gbp0.9085-92. Europe open Gbp0.9085, range
Gbp0.9080-97.
* Cable bounced off $1.2939 to $1.3032 post US CPI release Friday. Rate closed
the week around $1.3014.
* Cross had spiked to Gbp0.9119 then sank back to Gbp0.9077 Friday which allowed
cable to recover to $1.3032.
* Consolidation in Asia, cable contained by $1.3000/22, cross by
Gbp0.9085/92(Gbp0.9090 = E1.1000)
* Cable drifted off to $1.3003 early Europe, as rate tracked Eur/Usd moves, then
bounced to $1.3017.
* Eur/Gbp initially clung to Gbp0.9090 before it eased to Gbp0.9080 but as it
bounced to Gbp0.90975 it pressed on cable.
* Cable was pressed through $1.3000 to a late morning low of $1.2974 with
recovery efforts held shallow.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.