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Cable: Asia open $1.3203, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3203, range $1.3191-1.3223. Europe open
Current $1.3195, range $1.3181-1.3211.
* Eur/Gbp: Asia open Gbp0.8943, range Gbp0.8940-0.89525. Europe open Gbp0.8953,
range Gbp0.8952-68.
* Eur/Usd outpaced cable recovery through NY  Wednesday, took Eur/Gbp to
Gbp0.89545, closed at Gbp0.8942.
* Cable found support around $1.3200 into its close, which carried over into
Asia before rate edged to $1.3223.
* Move up cited on general Usd weakness. Cable rally faded, pullback overtook
Eur/Usd as Eur/Gbp edged to Gbp0.89525.
* Cable eased to $1.3185 opening Europe, rallied to $1.3207 before it dropped
back to $1.3181.
* Move seen as Eur/Gbp tracked Eur/Usd recovery, edged on to Gbp0.8962 and held
firm(eventually touched Gbp0.8968).
* Cable recovered to $1.3210 but struggled to hold gains, eventually tracked
Eur/Usd slippage to $1.3177. 
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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