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Cable: Asia open $1.3166, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3166, range $1.3162-76. Europe open
$1.3165, range $1.3126-64. 
* Eur/Gbp: Asia open Gbp0.8800, range Gbp0.8799-0.8810. Europe open Gbp0.8808,
range Gbp0.8806-40. 
* Cable recovery off Tuesday low of $1.3109 extended to $1.3176 in early Asia
then settled around $1.3170 ahead of Europe. 
* Strong Usd dmand pressed cable to an early extended low of $1.3140.
* Cable struggled to recover with Eur/Usd as Eur/Gbp picked up demand, rallied
through Tuesday high of Gbp0.8833 to Gbp0.8840.
* This rally in the cross took cable to an extended low of $1.3126 before
pressure rescinded. 
* Cross eased off to Gbp0.8825, allowed cable to recover back around $1.3140.
* Sterling continued to trade with an underlying heavy tone late Europe, but
held off lows.
* Political woes continue for PM May, with market wary of Brexit comments.
* Cable support $1.3125/09. Rate has faltered toward $1.3180 everyday this week
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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