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Cable got an early lift in opening Asian......>

CABLE
MNI (London)
CABLE: Cable got an early lift in opening Asian trade as rate was quickly lifted
to $1.2946, after stalling at $1.2889 Friday. However, the pound struggled to
hold onto those gains with rate drifting down to $1.2876 into the European open.
Rate has since edged to $1.2895 as Eur/Gbp eased back from its early Europe
retest of the earlier Asian high of Gbp0.9264 (NY high Aug25 Gbp0.9266), the
cross currently trading around Gbp0.9255. UK holiday Monday makes for a thinner
than usual sterling market and therefore open to volatile, order driven moves.
Cable support $1.2875/65 ahead of $1.2850. Resistance remains at $1.2946 into
$1.2950. 
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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