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Cable: Asia open $1.3188, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3188, range $1.3170-1.3203. Europe open
$1.3198, range $1.3165-1.3227.
* Eur/Gbp: Asia Gbp0.8934, range Gbp0.8910-28. Europe open Gbp0.8917, range
Gbp0.8903-25.
* Positive comment from EU officials concerning Brexit progress, mention of
second stage talks by Dec, buoyed sterling into Asia.
* Cable struggled in early Asia, despite Gbp/Jpy marked up following Japan Abe's
landslide win.
* Rate touched $1.3193, dropped back to $1.3170 then steadily recovered to
$1.3203 ahead of Europe.
* Early demand in Europe lifted rate to $1.3227, pressed Eur/Gbp down to
Gbp0.8903 before sterling pared gains.
* Cable eased to $1.3190 as Eur/Gbp recovered to Gbp0.8920, then eased on to
$1.3165 as it tracked Eur/Usd slippage.
* Cable recovered to settle around $1.3180 through the balance of the Europe
morning session. 
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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