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Cable: Nov16 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Nov16 NY range $1.3175-1.3208. Nov17 Asia open $1.3191,
range $1.3190-1.3245.
* Eur/Gbp: NY range Gbp0.8913-33. Asia open Gbp0.8921, range Gbp0.8913-0.89275.
* Cable recovery off Thursday's low of $1.3135 touched a high in early NY of
$1.3208, closed around $1.3185. 
* Release of better than forecast UK Retail Sales headline data aided sterling's
recovery. 
* Early demand in Asia lifted rate to $1.3210 before the Usd came under general
pressure on reaction to WSJ headlines.
* WSJ reported Special Counsel Mueller subpoenaed Trump's election campaign last
month.
* Reports N.Korea close to building a submarine with ballistic missile launching
capabilities also weighed on the Usd.
* Cable spiked to $1.3245, corrective pullbacks found support at $1.3225. Rate
edged back toward $1.3240 into Europe. 
* Light data calendar for UK Friday. 
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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