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EUROPE SUMMARY: Vol Trades En Vogue Post-ECB

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Cable: Nov2 US range...............>

STERLING SUMMARY
STERLING SUMMARY: Cable: Nov2 US range $1.3043-1.3279. Nov3 Asia open $1.3059,
range $1.3050-77. Europe open $1.3073
* Eur/Gbp: US range Gbp0.8780-0.8939. Asia open Gbp0.8927, range
Gbp0.8918-0.89345. Europe open Gbp0.8922
* BOE MPC 'dovish hike' saw sterling give up initial vote split react gains.
* Cable dropped back from $1.3273 to $1.3043, while Eur/Gbp spiked to Gbp0.8939.
* Quiet, pre NFP Asia session (Tokyo holiday), saw cable edge up from $1.3050 to
$1.3077.
* Focus seen on Gbp/Jpy. With Tokyo out for Culture Day this pair could be open
to added volatility. 
* Sterling opens Europe on a firmer note, albeit at weak levels. Real money
noted buyers into sterling dips. 
* UK Services and Composite PMI at 0930GMT, median 53.3/53.8 respectively. 
* Key focus on the day will be US NFP. Median 312k, AHE 0.2%mm. More interest on
AHE, especially if it comes in on strong side.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com