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Cable: Aug15 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Aug15 NY range $1.2846-88. Aug16 Asia open $1.2867,
range $1.2860-73.
* Eur/Gbp: NY range Gbp0.9094-0.91325. Asia open Gbp0.9125, range Gbp0.9120-25.
* Sterling came under further pressure Tuesday as the pound felt initial weight
from risk appetite dollar demand. 
* Softer than forecast UK CPI, then strong US Retail Sales acted to press cable
to a low of $1.2846.
* Buyers emerged into the dip around $1.2850, edged rate back to $1.2875, closed
around $1.2870.
* Eur/Gbp bounced back from a low of Gbp0.90525 to Gbp0.91325, dipped to
Gbp0.9092, closed at Gbp0.9120.
* Another session of consolidation in Asia, cable held by $1.2860-73,
Eur/Gbp0.9120-25. 
* UK Employment Report at 0830GMT provides domestic focus.
* Cable support $1.2850/45, $1.2812(Jul12 low). Resistance $1.2890/00. 
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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