Free Trial

Cable: Asia open $1.3142, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3142, range $1.3131-69. Europe open
$1.3168, range $1.3159-98.
* Eur/Gbp Asia open Gbp0.8935, range Gbp0.8930-49. Europe open Gbp0.8939, range
Gbp0.8927-49.
* Better weekend press for PM May, along with an upside correction in UK wage
growth, helped sterling recover Monday.
* Cable extended recovery gains from its post NFP/AHE low of $1.3027 to $1.3184
Monday, closed around $1.3140.
* Early dip to $1.3134 in Asia attracted buyers and took rate to $1.3169.
* Rate eased to $1.3153 before it edged back to retest the earlier high into
Europe. 
* Rate extended recovery to $1.3175 in early trade, dipped to $1.3159 as rate
influenced by Eur/Usd slippage.
* Fresh demand lifted rate to $1.3189, dipped to $1.3172 before strong UK Mfg
data drove it up to $1.3198. 
* Offers placed to $1.3200 countered before rate eased to the $1.3180 area.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

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.