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Cable: Asia open $1.3318, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3318, range $1.3309-38. Europe open
$1.3330, range $1.3298-1.3358
* Eur/Gbp: Asia open Gbp0.8934, range Gbp0.8926-38. Europe open Gbp0.8928, range
Gbp0.8919-52. 
* Cable saw a corrective pullback from $1.3383 to $1.3315 ahead of the close in
NY Monday.
* Hawkish Fed comment, positive soundings on Black Friday sales all acted to
buoy the Usd.  
* Cable marked a low of $1.3309 at Asia open before rate edged to $1.3338 ahead
of the European open.
* Suggested 'fat finger' trade saw cable spike to $1.3358 early Europe but move
was quickly reversed back to $1.3309. 
* Rate recovered to $1.3336 but struggled to hold gains, eased again to place
pressure on the $1.3300 area. 
* If rate can clear under $1.330 to expose a mix of stops and demand between
$1.3285/80. 
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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