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Cable: Aug18 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Aug18 NY range $1.2832-93. Asia open $1.2860, range
$1.2860-79. Europe open $1.2877.
* Eur/Gbp: NY range Gbp0.9107-49. Asia open Gbp0.9135, range Gbp0.9127-0.91355.
Open Gbp0.9126.
* Cable recovered off Friday low of $1.2832 to $1.2886 ahead of the close. 
* Rate was pressed down to $1.2860 in opening Asian trade, recovered to $1.2879.
* Rate then eased to $1.2865 before it settled close to its earlier high into
Europe. 
* Eur/Gbp eased from its Friday high of Gbp0.9149 to Gbp0.9127, settled around
Gbp0.9130 into close. 
* Cross was confined to a tight Gbp0.9127-0.91355 range, favoring the base into
Europe. 
* Friday's dip to $1.2832 significant in that it pierced below support at
$1.2840 but couldn't hold. 
* Light UK data calendar for Monday. Tue UK Public Borrowing, CBI Trends. Thu Q2
GDP, CBI Retail Sales.
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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