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Cable: Asia open $1.3038, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3038, range $1.3038-60. Europe open
$1.3046, range $1.3033-70.
* Eur/Gbp: Asia open Gbp0.9140, range Gbp0.9139-41. Europe open Gbp0.9140, range
Gbp0.36-68.
* Asia marked a low at $1.3038 at the open before cable slowly recovered.
* Cable met resistance into $1.3050 then 'spiked' to $1.3060 as market reacted
to comments suggesting N.Korea missile launch Sep9.
* As launch widely expected rate settled back between $1.3042/50 through balance
of the session.
* Apart from the N.Korea hiccup markets in Asia were seen basically settled
ahead of today's ECB meeting.
* Brief cable dip to $1.3033 found demand that lifted rate to $1.3048. Rate
dipped back to $1.3035 on Eur/Gbp rally.
* Cross tracked Eur/Usd rally but resistance between Gbp0.9160/70 saw cable play
catch up, rallied to $1.3070. 
* Usd under general pressure ahead of the ECB decision, Eur/Usd leading moves. 
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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