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Cable: Asia open $1.3223, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3223, range $1.3220-65. Europe open
$1.3260, range $1.3230-63.
* Eur/Gbp: Asia open Gbp0.8968, range Gbp0.8954-70. Europe open Gbp0.8957, range
Gbp0.89495-0.8963.
* Cable touched an early low in Asia of $1.3220 then recovered, picked up
momentum into Tokyo as rate edged to $1.3265.
* Pullback to $1.3240 before rate edged back to $1.3260 into Europe. Eur/Gbp
drifted off to Gbp0.8954.
* Move up in cable seen mainly Usd driven following release of 'dovish' FOMC
Minutes.
* Cable eased to $1.3237 early Europe, pulled lower by Eur/Usd slippage though
Eur/Gbp ease to Gbp0.89495 diverted pressure. 
* Eur/Gbp bounce back toward Asia high of Gbp0.8970 late morning saw cable down
at $1.3230 in overall subdued market. 
* Eur/Gbp eased back toward its mid point of Gbp0.8960 ahead of NY but cable
remained heavy(within range)
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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