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Cable: Asia open $1.3191, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3191, range $1.3190-1.3245. Europe open
$1.3229, range $1.3223-60. 
* Eur/Gbp: Asia open Gbp0.8921, range Gbp0.8913-0.89275. Europe open Gbp0.8923,
range Gbp0.88985-0.89265.
* Cable recovery off Thursday's low of $1.3135 touched a high in early NY of
$1.3208, closed around $1.3185.
* Early demand in Asia lifted rate to $1.3210 before Usd came under general
pressure on reaction to WSJ headlines.
* WSJ - Special Counsel Mueller subpoenaed Trump's election campaign last month.
* Reports N.Korea close to building a submarine with missile launching
capabilities also weighed on the Usd.
* Cable spiked to $1.3245, corrective pullbacks found support at $1.3225. Rate
edged back toward $1.3240 into Europe.
* Brexit comment early Europe dictated direction, initially edged rate to
$1.3257 then back to $1.3223.
* However, underlying sterling bid tone allowed cable to edge to $1.3260. 
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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