Free Trial

Cable: Asia open $1.3525,..........>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3525, $1.3512-50. Europe open $1.3534,
range $1.3476-1.3542.
* Eur/Gbp: Asia open Gbp0.8796, range Gbp0.8789-0.8812. Europe open Gbp0.8813,
range Gbp0.8802-41. 
* Cable eased to $1.3512 early Asia before fresh demand emerged to edge rate to
a fresh recovery high of $1.3550.
* Positive Brexit comment, though tempered by Irish border concerns, kept
sterling buoyed. into Europe.
* Eur/Gbp activity around 0700GMT saw rate dip to Gbp0.8802 then bounce to an
eventual high of Gbp0.8841.
* Cross drifted back to Gbp0.8820 on order exhaustion. 
* Cable dropped to $1.3478 pre UK PMI data, recovered to $1.3495 into release.
Strong data saw rate jump to $1.3510.
* Rate struggled to hold react gains and drifted back to the $1.3480 area.
* Position adjustments were seen into the weekend, 'correction Friday' and ahead
of weekend press.  
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.