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Cable: Dec4 NY range...............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Dec4 NY range $1.3415-1.3538. Dec5 Asia open $1.3480,
range $1.3462-82. 
* Eur/Gbp: NY range Gbp0.8756-0.8830. Asia open Gbp0.8803, range
Gbp0.8811-0.88195.
* Reversal in fortunes for sterling Monday as early hopes for progress in Brexit
negotiations countered by DUP.
* N.Ireland DUP, PM May's coalition partner, voiced concern that they didn't
want a deal different from the rest of the UK.
* Cable had seen a high of $1.3538 into NY only for rate to fall back to $1.3415
then settled around $1.3475 into close. 
* Cable consolidated through the Asian session within $1.3462/82 as market
awaits further Brexit developments. 
* Focus turns to discussions between UK Conservatives and N.Ireland DUP ahead of
the Dec14/15 European Council Leaders Summit.
* UK Services and Composite PMI and UK Reserves data at 0930GMT provides
domestic data interest.
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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