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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.
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Free AccessCable extended Tuesday's recovery to..........>
CABLE: Cable extended Tuesday's recovery to $1.3194 in NY before it settled
around $1.3180 into the close. Sterling strength was general, allowed EUR/GBP to
press down to Gbp0.8921 as this rate extended its pullback from its recent rally
high of Gbp0.8997, as well as away from the top of its 10-dma 1.0% envelope.
Trade in Asia consolidated between $1.3171-86 before early Europe pressed rate
down to $1.3163. Rate currently trades around $1.3178. Traders continue to
mention last Saturday's auction win by Comcast to buy Sky in a deal worth
Gbp30.9bn/$39bn, suggest that sterling picks up demand into dips and expected to
do so through to the end of the week. Attention turns to this evening's FOMC
rate announcement, most expecting a hike of 25bps with more attention on the
accompanying comments for rate path outlook. UK Finance New Home loan approvals
for August due at 0830GMT ahead of CBI Distributive Trades at 1000GMT provides
domestic interest. Cable support $1.3145/40 ahead of $1.3100. Resistance now
seen at $1.3186/94 ahead of stronger interest seen around $1.3200.
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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.