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Cable: Asia open $1.3119, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3119, range $1.3108-57. Europe open
$1.3143, range $1.3124-48.
* Eur/Gbp: Asia open Gbp0.8945, range Gbp0.89315-0.8953. Europe open Gbp0.8939,
range Gbp0.8918-40.
* FOMC seen dovish which applied further pressure on the dollar Wednesday.
* Cable rallied above $1.3100 before posting a high of $1.3125.
* Cable's react rally trailed Eur/Usd which allowed Eur/Gbp to extend recovery
off Gbp0.8905 to Gbp0.8955, closed at Gbp0.8943.
* Cable extended gains early Asia to $1.3127 then slowly eased to $1.3108.
* Fresh pressure on the dollar emerged which took rate to an extended high of
$1.3157 then eased to $1.3140 ahead of Europe.
* Cable rally played catch up on Eur/Usd, Eur/Gbp eased to Gbp0.89315 then
recovered with Eur/Usd to Gbp0.8950.
* Cross eased through Europe to Gbp0.8918, move provided cable buoyancy as
Eur/Usd pared gains. 
* UK CBI Retail Sales 1000GMT, market median 10.
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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