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Cable: Nov17 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Nov17 NY range $1.3170-1.3222. Nov20 Asia open $1.3206,
range $1.3189-1.3222.
* Eur/Gbp: NY range Gbp0.8915-54. Asia open Gbp0.89185, range Gbp0.8879-0.89185.
* Friday's spike to Gbp0.8954(110GMT fix) saw rate dip to Gbp0.8915(1600GMT fix)
settled around Gbp0.8920 into close. 
* Move saw cable drop back from $1.3260 to $1.3170 with recovery capped at
$1.3222 ahead of its $1.3216 close. 
* Collapse of German coalition weighed on the Eur pre Tokyo, dropped Eur/Gbp to
Gbp0.8879, move lifted cable to $1.3223. 
* Tokyo bought Eur/Jpy at its open, demand led Eur/Gbp back to Gbp0.8900 then
drifted back to the Gbp0.8885 area. 
* Sharp sell off in Eur/Usd then dragged cable down to $1.3189 before it
recovered back above $1.3200 into Europe. 
* Sterling given added buoyancy as press reports suggested PM May had Cabinet
support to increase Brexit payment.
* UK Budget Weds in focus. Brexit headlines and fix interest on watch lists.    
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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