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Cable: Aug21 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Aug21 NY range $1.2878-1.2916. Asia open $1.2900, range
$1.2882-1.2906. Current $1.2886(0444GMT)
* Eur/Gbp: NY range Gbp0.9128-61. Asia open Gbp0.9159, range Gbp0.91555-0.91625.
Current Gbp0.9162(0447GMT)
* Cable recovered off its Monday low of $1.2851 to $1.2916 in NY, further
extending the recovery from Friday low of $1.2832. 
* Rate eased then settled around $1.2900 into the close.
* Cable's recovery was outpaced by Eur/Usd which allowed Eur/Gbp to edge to a
13-mth high of Gbp0.9161 in NY.
* The cross consolidated these gains in Asia between Gbp0.91555-0.91625, marking
a fresh 13-mth high.
* Cable initially eased to $1.2894 early Asia, edged up to mark highs of $1.2906
then sank back to $1.2882.
* UK Public Borrowing data 0830GMT. UK CBI Trends 1000GMT. 
* Cable support $1.2880/70, stronger $1.2850. Resistance $1.2915/20, $1.2940/50.
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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