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

STERLING SUMMARY: Cable: Asia open $1.3119, range $1.3073-1.3121. Europe open

$1.3088, range $1.3060-1.3093.

* Eur/Gbp: Asia open Gbp0.8927, range Gbp0.8928-43. Europe open Gbp0.8939, range

Gbp0.8935-54.

* Political uncertainty over PM May's tenure continued to weigh on sterling

through Thursday and into Friday.

* Cable extended recent corrective pullback, from Sep20 high of $1.3659, to

$1.3108 in NY, closed at $1.3119.

* Rate touched $1.3121 in opening Asia trade then rate turned lower again, break

of $1.3108 took rate to an initial low of $1.3088.

* Recovery to $1.3109 short lived before rate pressed to a session low of

$1.3073.

* Sterling remained under pressure into Europe, rate touched an eventual low of

$1.3060 as Eur/Gbp edged to Gbp0.8954. 

* Recovery efforts remained very shallow, sterling was holding toward lows in

late morning/pre NFP trade.