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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
* 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.