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Cable: Asia open $1.3393, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3393, range $1.3366-98. Europe open
$1.3369, range $1.3364-1.3421. 
* Eur/Gbp: Asia open Gbp0.8807, range Gbp0.8804-24. Europe open Gbp0.88175,
range Gbp0.8781-0.8825.
* Eur/Gbp spiked to Gbp0.8824 at Asia open, reaction to a Telegraph article EC
Juncker extends deadline to support PM May govt.
* Cable dropped to $1.3376, recovered to $1.3392 but sterling under fresh
downside pressure into Europe, eased to $1.3364.
* No news appeared to be good news for sterling as cable slowly edged back to
$1.3386.
* Move aided by Eur/Gbp's rejection from Gbp0.8825, late morning break under
Gbp0.8800 to Gbp0.8781 took cable to $1.3421.
* BBC reported 'Ministers absolutely optimistic on border deal' being linked to
sterling lift.
* Cable resistance noted at $1.3425/37(Hourly resistance/Dec 6 high).  
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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