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Free AccessCable: Aug29 NY range..............>
STERLING SUMMARY: Cable: Aug29 NY range $1.2915-72. Aug30 Asia open $1.2925,
range $1.2919-36. Current $1.2934(0442GMT)
* Eur/Gbp: NY range Gbp0.92535-0.9301. Asia open Gbp0.9267, range Gbp0.9264-68.
* Cable struggled to keep pace with Eur/Usd's stronger rally Tuesday, though did
manage to touch a high of $1.2978.
* This lag move allowed Eur/Gbp to spike to fresh 32-month highs of Gbp0.9307
before rate reversed.
* A sharper reversal in Eur-Usd acted to drag cable down to $1.2915 but Eur/Gbp
reversal to Gbp0.92535 provided some buoyancy.
* Eur/Gbp was confined to a tight Gbp0.9264-68 in Asia.
* Cable touched a low of $1.2919 early Asia before rate edged to $1.2936, eased
to $1.2931 into Europe.
* UK Lending and Money Supply data due at 0830GMT provides domestic interest.
* Spain, Germany flash CPI's, EZ Confidence Indicators then US ADP (ahead of
Friday NFP), US Q2 GDP in focus.
* Cable support $1.2920/00, resistance $1.2980.
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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.