Cable: Aug1 NY range...............>

STERLING SUMMARY: Cable: Aug1 NY range $1.3197-1.3245. Aug2 Asia open $1.3210,

range $1.3190-1.3216. Current $1.3202(0444GMT)

* Eur/Gbp: NY range Gbp0.8922-50. Asia open Gbp0.89385, range

Gbp0.89385-0.89575. Current Gbp0.8955(0448GMT)

* Cable saw an extended recovery high of $1.3245 in NY Tue, dropped to $1.3199

then settled around $1.3205 into close. 

* UST yield plays drove action through the US session.

* Slow recovery in early Asia saw rate touch $1.3213, dipped to $1.3202 before

it rallied to a high of $1.3216. 

* Rate then reversed off to $1.3190 as UST yields edged higher, though rate had

corrected back to $1.3205 ahead of Europe.

* Eur/Gbp recovered off a low of Gbp0.8922 to Gbp0.8950 in NY, dropped to

Gbp0.8930 recovered to Gbp0.8937 into close.

* Recovery continued in Asia, rate edged on from its opening level of Gbp0.89385

to Gbp0.89575.

* UK Construction PMI 0830GMT, market median 54.0 vs last 54.8