Free Trial

Cable: Dec5 NY range $1.3403-60....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Dec5 NY range $1.3403-60. Dec6 Asia open $1.3443, range
$1.3405-45. 
* Eur/Gbp: NY range Gbp0.8780-0.8852. Asia open Gbp0.8797, range
Gbp0.8799-0.8825.
* Recovery off lows of $1.3371 extended to $1.3460 in NY before rate settled
around $1.3445 into the close. 
* Recovery in cable helped by consolatory Brexit noises following DUP derailment
Monday as well as Eur/Gbp sell off. 
* Eur had come under pressure through Tuesday's NY session, rate pressed down to
Gbp0.8780 from Gbp0.8868.
* Cross recovered to Gbp0.8800 into the close, Asia extended move to Gbp0.8825.
* Telegraph noted a possible Cabinet revolt (Johnson and Gove) which knocked
cable down to $1.3405 in early Asia.
* Cable recovered to $1.3436 settled around $1.3425 into Europe. 
* UK Brexit Minister Davis Parliamentary Ctte 0915. Chancellor Hammond TSC
0915GMT. PM Questions 1200GMT. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

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.