Cable: Aug16 close $1.2880,........>

STERLING SUMMARY: Cable: Aug16 close $1.2880, Aug17 Asia range $1.2884-1.2909

*Euro-stg: Aug16 close stg0.9135, Aug17 Asia range stg0.9124-36

*The release of strong UK employment data saw cable spike to $1.2903 on

Wednesday

*Pullback off the high encountered willing dip buyers ahead of $1.2840, before a

dovish FED with added Trump moves to dissolve two business councils, recovered

to close at $1.2880/85

*The weaker US dollar theme spilled over into Asia, cable extended the slow

grind to hold either side of $1.2890

*Supply ahead of $1.2900 initially capped, but the level eventually gave way

with gains extending to $1.2909

*Euro-stg remained in consolidation mode tied to a narrow stg0.9124-36 range

*Traders reported of light volumes as focus turns to the release of UK Retail

Sales data (0830GMT). Analysts foresee growth in sales volumes moderating in

July, with a median forecast of 0.3% m/m pencilled in. Cable last $1.2907.