Free Trial

Cable: Asia open $1.3076, range....>

MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3076, range $1.3060-83. Europe open
$1.3072, range $1.3068-1.3122.
* Eur/Gbp: Asia open Gbp0.8889, range Gbp0.8879-92. Europe open Gbp0.8883, range
* Friday NFP react saw cable spike to $1.3132 then dropped back to $1.3057
before it settled around $1.3080.
* Despite the pullback sterling performed better than the Eur, saw Eur/Gbp
pressed to a low of Gbp0.8873.
* Consolidation in Asian trading saw cable contained within a range of
$1.3060-83, Eur/Gbp between Gbp0.8879-92.
* Eur/Gbp was pressed lower in Europe, rate quickly broke under its Asian and NY
lows before it based at Gbp0.8842. 
* Move saw cable break backa bove $1.31, extended move to $1.3122 before it
settled back on the figure. 
* Following last week's BOE MPC rate hike focus seen on Brexit
developments(parliament short recess Wed-Fri).
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

To read the full story

Why Subscribe to


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.