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Cable: Asia open $1.3262,..........>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3262, $1.3260-83. Europe open $1.3273,
range $1.3270-1.3322
* Eur/Gbp: Asia open Gbp0.8919, range Gbp0.8917-28. Europe open Gbp0.8924, range
Gbp0.88765-0.8926.
* Sterling reversed losses Thursday as Handelsblatt suggested EU Barnier could
propose a 2-yr transition for Brexit.
* This reversed earlier pressure on sterling as markets reacted to Barnier
comment on Brexit impasse.
* Cable rallied back from $1.3122 to $1.3292, while Eur/Gbp dropped from
Gbp0.9033 to Gbp0.8915. 
* Consolidation through Asia saw cable confined to $1.3260/83, Eur/Gbp to
Gbp0.8917-28.
* However, sterling was trading with a firm tone into early Europe. 
* Sterling demand in Europe initially spiked cable to $1.3314, extended move to
$1.3322 as Eur/Gbp eased to Gbp0.88765(Oct5 low). 
* Cable slowly pared gains through balance of morning toward $1.3300. 
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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