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GBP

Goldman Sachs: Sterling In The Spotlight

AUSSIE 3-YEAR TECHS

(U1) Holding Onto Gains

MNI

Test 003, Please Ignore

MNI

Test, Please Ignore

EUROZONE ISSUANCE

EGB Supply for W/C Jul 26

Cable: Nov1 NY range...............>

STERLING SUMMARY
STERLING SUMMARY: Cable: Nov1 NY range $1.3242-1.3314. Nov2 Asia open $1.3245,
range $1.3245-1.3300. Europe open $1.
* Eur/Gbp: NY range Gbp0.8733-84. Asia open Gbp0.8772, range Gbp0.87725-0.8779.
Europe open Gbp
* Cable drifted off its Wednesday high of $1.3321 to an eventual low of $1.3241
into the NY close.
* Traders noted a sharp sell off in sterling around 1440GMT which looked to be
late end month Eur/Gbp demand related.
* FOMC was seen setting up a much anticipated December hike.  
* Press reported that Fed Powell seen as the stand out candidate for Fed Chair
which was seen weighing on the Usd into Asia.
* Cable recovered to $1.3300 in Asia then settled around $1.3280 ahead of the
European open.
* UK Construction PMI at 0930GMT follows EZ Manufacturing PMI data releases.  
* 1200GMT BOE MPC rate announcement, Minutes, Inflation Report and Q&A. Market
expects a 25bp hike, focus on rate path comments.