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Cable: Asia open $1.3490, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3490, range $1.3490-1.3531. Europe open
$1.3512, range $1.3510-1.3606.
* Eur/Gbp: Asia open Gbp0.8879, range Gbp0.8869-85. Europe open Gbp0.8886, range
Gbp0.88265-0.8886.
* Cable marked an opening low of $1.3490 into Asia, recovered through the day to
$1.3531.
* Rate drifted off to $1.3510 ahead of Europe in fairly subdued trade with main
focus on US FOMC later in the day.
* Cable consolidated in early Europe between $1.3510/30. Volatility into UK data
saw rate bounce between $1.3510/36. 
* Strong data saw sterling spike higher, cable jumped to $1.3592, extended on to
$1.3606.
* Eur/Gbp dropped to Gbp0.88265 from around Gbp0.8880, while Gbp/Jpy extended
recent gains to Y151.51.
* Sterling was off best levels late morning though underlying tone was seen
buoyant.   
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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