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Cable: Asia open $1.3236, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3236, range $1.3236-50. Europe open
$1.3247, range $1.3229-67
* Eur/Gbp: Asia open Gbp0.8865, range Gbp0.8861-0.88675. Europe open Gbp0.8864,
range Gbp0.8843-71.
* Cable recovery, off its late NY low of $1.3224, extended in Asia but progress
was seen capped into $1.3250. 
* Early Europe demand for sterling saw cable push on to $1.3267 as Eur/Gbp broke
support at Gbp0.8860/57. 
* Eur/Gbp pressed down to Gbp0.8843 only to bounce back to retest the earlier
Asian high around Gbp0.8867. 
* This cross recovery saw cable ease back to retest its Asian low.
* Break below $1.3236 to $1.3229 late morning seen as the cross extended its
recovery to Gb0.8871. 
* UK Public Borrowing data was seen basically inline. 
* BOE Saunders, Vlieghe, McCafferty and Cunliffe at hearing on the Nov Inflation
Report softened sterling.
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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