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Cable: Asia open $1.3008, range....>

STERLING SUMMARY
MNI (London)
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.  
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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