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Cable: Aug3 NY range...............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Aug3 NY range $1.3113-1.3240. Aug4 Asia open $1.3137,
range $1.3133-45. Current $1.3138(0446GMT)
* Eur/Gbp: NY range Gbp0.89395-0.90485. Asia open Gbp0.9036, range Gbp0.9036-46.
Current Gbp0.9040(0448GMT)
* Dovish BOE MPC, growth concerns, Carney comments suggest no rate hike this
year, weighed heavily on sterling Thursday.
* Cable dropped to a low of $1.3113, while Eur/Gbp cracked above Gbp0.9000 to
Gbp0.90485. 
* Rate touched a high of $1.3145 early Asia then eased to $1.3133. Recovery
effort stalled at $1.3140.
* Rate dropped to $1.3130 with thin conditions pre Europe adding to volatility
as BOE Broadbent appeared on BBC R5.
* Eur/Gbp was contained through the main part of Asian between Gbp0.9036-46,
made a show to Gbp0.9048 pre Europe.
* Cable support $1.3120/00, $1.1.3050. Resistance $1.3150/55, $1.3180/85. 
* US NFP/AHE at 1230GMT. Strong data - dollar boost should weigh on cable again.
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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