Free Trial

Cable: Asia open $1.3409, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3409, range $1.3406-80. Europe open
$1.3469, range $1.3448-76.
* Eur/Gbp: Asia open Gbp0.8835, range Gbp0.8804-0.88375. Europe open Gbp0.8809,
range Gbp0.87765-0.8826.
* Cable extended its recovery from Tuesday's low of $1.3221 to $1.3480 in Asia.
* Sterling boosted in Asia on reaction to a Times report progress made on
Ireland border, chance for transition deal January.
* Cable pushed to $1.3480 in Asia, pullbacks restricted to $1.3465.
* Eur/Gbp extended its corrective pullback to Gbp0.8804 in Asia while Gbp/Jpy
made a show above Y151.00.
* Sterling retained a buoyant tone in Europe, cable eased to $1.3447 but was
supported by cross sterling demand.
* Eur/Gbp broke under its 200-dma of Gbp0.8795 to Gbp0.87765, while Gbp/Jpy
pushed to Y151.55. 
* Last day of the month and bank models suggest cable demand to be seen at the
fixes. Chance of counter Eur/Gbp demand.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.