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Cable: Aug11 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Aug11 NY range $1.2939-1.3032. Aug14 Asia open $1.3008,
range $1.3000-22. Current $1.3011(0453GMT)
* Eur/Gbp: NY range Gbp0.90605-0.9019. Asia open Gbp0.9092, range Gbp0.9085-92.
* US CPI miss saw Usd under renewed pressure, with Eur/Usd experiencing the main
reaction. 
* Cable initially rallied to $1.3010 then dropped to $1.2939 as Eur/Gbp tracked
Eur/Usd's stronger react.
* Cross spiked up to Gbp0.9119 then sank back to Gbp0.9077, allowed cable to
recover to $1.3032.
* Cable settled around $1.3010 into the close, the cross around Gbp0.9085.
* Consolidation in Asia, cable contained by $1.3000/22, cross by
Gbp0.9085/92(Gbp0.9090 = E1.1000)
* Light data calendar in the UK Monday. UK Inflation Tuesday and Wednesday
Employment Report in focus. 
* Cable support $1.3000, $1.2940/20. Resistance $1.3030, $1.3050.  
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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