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Cable: Asia open $1.3205, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3205, range $1.3200-28. Europe open
$1.3215, range $1.3126-1.3221. 
* Eur/Gbp: Asia open Gbp0.8926, range Gbp0.8926-36. Europe open Gbp0.8930, range
Gbp0.8926-77. 
* Rate touched $1.3200 at the Asian open before recovery extended to $1.3228.
* Traders reported stops triggered on break above $1.3220, same time Eur/Usd
stops triggered through $1.1810.
* Rate eased to $1.3202 before recovering to $1.3220 ahead of the European open.
* Eur/Gbp cleared above Gbp0.8930 Wed, touched Gbp0.8947 then settled around
Gbp0.8930 through balance of NY and Asia.
* Sterling was seen under pressure in early Europe, though did pare some losses
ahead of UK Retail Sales.
* However, poor numbers dropped cable from around $1.3180 to $1.3126, recovered
to $1.3160 despite Eur/Gbp holding firm.
* PM May to address EU Leaders at a pre Brexit negotiation summit this evening.
EU leaders meet Labour Corbyn ahead of May.
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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