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Cable: Asia open $1.3159, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3159, range $1.3099-1.3160. Europe open
$1.3104, range $1.3087-1.3146.
* Eur/Gbp: Asia open Gbp0.9007, range Gbp0.9004-19. Europe open Gbp0.9016, range
Gbp0.8981-0.8922.
* Cable recovered off its Thursday low of $1.3135 to $1.3209 in early NY then
retreated to the $1.3150/60 area into close.
* Eur/Gbp provided the main downside weight for sterling as rate broke above
Gbp0.8950 and rallied to Gbp0.9013.
* Brexit concerns continued to weigh against the pound into Asia, despite some
positive remarks from Germany Merkel.
* News US Senate voted to adopt the 2018 Budget resolution(opens tax reforms)
boosted the Usd across the board in Asia.
* Cable dropped from $1.3160 to $1.3099 and held heavy into Europe, added sales
extended slippage to $1.3087.
* Cable bounced as Eur/Gbp reversed from Gbp0.8922, cross eased to Gbp0.8981 as
cable rallied to $1.3146.
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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