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Cable: Asia open $1.3036, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3036, range $1.3027-44. Europe open
$1.3032, range $1.3019-48.
* Eur/Gbp: Asia open Gbp0.9140, range Gbp0.9135-0.91465. Europe open Gbp0.9142,
range Gbp0.9135-63.
* Dollar came under pressure as US markets returned Tuesday, allowed cable to
extend recovery off $1.2908 to $1.3043.
* Markets moved into increased risk off mode which kept dollar under pressure
into Asia.
* Cable eased to $1.3026 ahead of the NY close then recovered into the Asia open
as rate extended topside to $1.3044.
* Cable eased through the balance of the session to $1.3027 ahead of the
European open.
* Early recovery to $1.3040 met stiff resistance before rate was pressed down to
$1.3019. 
* Strong recovery in Eur/Usd dragged cable up to $1.2948, but rise countered by
Eur/Gbp's rise to Gbp0.9163. 
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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