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Free AccessCable: Aug25 NY range..............>
STERLING SUMMARY: Cable: Aug25 NY range $1.2814-89. Aug28 Asia open $1.2895,
range $1.2880-1.2946. Current $1.2880(0453GMT)
* Eur/Gbp: NY range Gbp0.9198-0.9266. Asia open Gbp0.9240, range Gbp0.9236-64.
Current Gbp0.9257(0456GMT)
* ECB Draghi comments on EZ growth and no mention of Eur strength saw Eur/Gbp
propelled to Gbp0.9266 into Friday's close.
* Move placed a counter on cable as it tried to keep pace with Eur/Usd's strong
react rally, the rate capped at $1.2889.
* Opening Asia allowed cable to play catch up, rate spiked to $1.2946 as the
cross sank back to Gbp0.9236.
* Cable pared those early gains through the balance of the session, rate drifted
off to $1.2880 into Europe.
* Correction seen on Eur/Gbp recovery to Gbp0.9264, but as cross settled back
around Gbp0.9255 cable tracked Eur/Usd slippage.
* UK bank holiday Monday expected to provide for thin trading conditions in
sterling.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.