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Cable: Asia open $1.3066, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3066, range $1.3060-$1.3123. Europe open
$1.3097, range $1.3095-1.3125. 
* Eur/Gbp: Asia open Gbp0.8980, range Gbp0.8942-90. Europe open Gbp0.8961, range
Gbp0.8935-61.
* Cable marked lows in Asia at $1.3060 then rallied to $1.3123 on better weekend
press reports concerning PM May.
* Cable eased back to $1.3075 then edged back toward $1.3100 into Europe.
* Asian markets were thin due to Japan and S.Korea holidays. US and Canada
holidays later made for a quiet day.
* Sterling retained a firm tone into Europe, cable edged to $1.3125 while
Eur/Gbp squeezed down to Gbp0.8935.
* Eur recovery edged cross back to the Gbp0.8945/50 area though cable retained
buoyancy. 
* Times report of ONS mistake in Friday Unit Labour Cost release helped buoy
sterling, little react when confirmed. 
* Focus Tuesday UK Trade, IP and Construction data. 
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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