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Free AccessCable got an early lift in opening Asian......>
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.
To read the full story
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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.