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Cable: Asia open $1.3583, range....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Asia open $1.3583, range $1.3567-87. Europe open
$1.3582, range $1.3558-95. 
* Eur/Gbp: Asia open Gbp0.8792, range Gbp0.8792-0.8808. Europe open Gbp0.8806,
range Gbp0.8801-43.
* Cable consolidated around $1.3580 into Thu's close. Asia continued this theme
within $1.3567-87.
* Sterling picked up early demand in Europe, eased Eur/Gbp to Gbp0.8801, took
cable to $1.3596.
* Sharp dip back to $1.3563, as cross bounced to Gbp0.8843, but managed to edge
back to $1.3593.
* As Eur/Usd retreated from above $1.2000 it took cable down to $1.3557 while
the cross held just off earlier highs. 
* Focus on PM May's speech in Florence, due around 1315-1330GMT. Sterling buoyed
on prospect by could be open to disappointment.
* UK CBI Trends data at 1000GMT though not normally a market mover these days. 
* Cable support $1.3550, resistance $1.3600/10. 
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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