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Cable: Asia open $1.3327, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3327, range $1.3310-40. Europe open
$1.3340, range $1.3341-60.
* Eur/Gbp: Asia open Gbp0.8823, range Gbp0.8818-21. Europe open Gbp0.8817, range
Gbp0.8817-34.
* Usd closed off last week with a firm tone, cable pressed to a low of $1.3300
before it recovered to $1.3330 ahead of close.
* Cable's recovery continued in Asia, off a posted low of $1.3310 the rate edged
to $1.3348 into early Europe.
* Move saw Eur/Gbp sit back on its Asian low, but as cable held around $1.3350
so cross edged higher with Eur/Usd.
* Cable met resistance ahead of $1.3350 in early Europe, eventually edged on to
$1.3360.
* Large $1.3350 expiry for today's NY cut, Gbp2.15bn, was seen anchoring rate
close by.  
* UK CBI Trends at 1100GMT provides domestic data interest.
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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