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

STERLING SUMMARY
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