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Cable: Asia open $1.3248, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3248, range $1.3230-49. Europe open
$1.3244, range $1.3175-1.3250.
* Eur/Gbp: Asia open Gbp0.8877, range Gbp0.8877-85. Europe open Gbp0.8878, range
Gbp0.88765-0.8934.
* Corrective pullback from Wednesday's UK Services PMI react high of $1.3292
extended to $1.3230 in Asia.
* Rate managed to recover to $1.3250 into Europe before meeting headwind sell
interest. 
* Cross touched an early low of Gbp0.88765 in opening Europe before strong
sterling sales emerged. 
* Reaction seen as early bank reports placed a negative view on sterling via
political outlook/Brexit. 
* Eur/Gbp rallied to Gbp0.8934 as cable dropped through $1.3222/16 support to
$1.3175.
* Cable recovery efforts were capped around$1.3200, while Eur/Gbp remained
buoyed above Gbp0.8900. 
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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