Cable: Asia open $1.3382, range....>

STERLING SUMMARY: Cable: Asia open $1.3382, range $1.3362-85. Europe open

$1.3382, range $1.3353-1.3402.  

* Eur/Gbp: Asia open Gbp0.88035, range Gbp0.88035-0.8812. Europe open

Gbp0.88095-0.8838.

* Cable pullback from Monday high of $1.3418 extended in Asia to $1.3362(NY low

$1.3377) then edged to $1.3385 into Europe.

* Initial drift off to $1.3376 early Europe before rate bounced to a high of

$1.3402. 

* Move up influenced by Eur/Usd breaking above $1.1800 but as Eur/Gbp picked up

demand it provided a stiff counter. 

* Cross eventually broke higher, eventually pushed up to Gbp0.8838, just shy of

Monday's high of Gbp0.8841. 

* Move saw cable pressed through its Asian base to $1.3353 before sterling found

fresh demand interest.

* Cable recovered to $1.3373 while the cross eased off to Gbp0.8826. 

* Thin markets allow for added volatility in order driven trade.