Cable: Jul31 NY range..............>

STERLING SUMMARY: Cable: Jul31 NY range $1.3112-1.3223. Aug1 Asia open $1.3210,

range $1.3192-1.3235. Current $1.3220(0450GMT)

* Eur/Gbp: NY range Gbp0.89335-0.8973. Asia open Gbp0.8961, range Gbp0.8945-62.

Current Gbp0.8949(0454GMT)

* Dollar sales into end month fix took cable to a fix high of $1.3199. Continued

demand post fix extended move to $1.3223.

* Early Asia pressed rate back to $1.3192 before fresh demand/general dollar

sales allowed rate to rest the NY high.

* The break here allowed rate to extend the recent recovery rally to $1.3235,

then held back at $1.3220 into Europe. 

* Eur/Gbp was pushed up to Gbp0.8973 as cable trailed Eur/Usd's fix rally, then

dropped to Gbp0.89585 into close. 

* Cross touched an early high of Gbp0.8962 in Asia then came under sell pressure

that pressed rate down to Gbp0.8945. 

* UK Manufacturing PMI due at 0830GMT provides domestic interest. Market median

54.5 vs last 54.3.