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Cable: Asia open $1.3252, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3252, range $1.3235-64. European open
$1.3255, range $1.3240-86.
* Eur/Gbp: Asia open Gbp0.8900, range Gbp0.8884-0.8902. Europe open Gbp0.8885,
range Gbp0.8859-0.8887.
* Cable drifted off to $1.3235 early Asia then recovered to $1.3264, settled
back on $1.3250 into Europe.
* Eur/Gbp drifted off through the Asian session to Gbp0.8884, rested on low into
Europe.
* Early Europe saw fresh Usd demand, cable was dragged back to $1.3240 on
Eur/Usd slippage until Eur/Gbp began to ease.
* Eur/Gbp pressed down to Gbp0.8860 as cable rallied to $1.3286, strong sterling
demand seen ahead of UK CPI release. 
* Data came in as expected, prompted a sharp drop to $1.3257 but buyers quickly
moved in to pare react loss. 
* New BOE MPC member Ramsden showed his dovish tilt at the TSC and cable eased
back to $1.3250. 
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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