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Cable: Nov27 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Nov27 NY range $1.3315-83. Nov28 Asia open $1.3318,
range $1.3309-38.
* Eur/Gbp: NY range Gbp0.8925-47. Asia open Gbp0.8934, range Gbp0.8926-38. 
* Cable saw an extended recovery high of $1.3383 in early NY Monday as UST's saw
nervous demand in a returning US market.
* Better than forecast US New Home Sales prompted a Usd correction acted to
press cable down to $1.3315 ahead of the close.
* Black Friday retail sales look positive, similar expected for the weekend and
into Cyber Monday and should boost US Retail Sales.  
* This strengthening in the Usd also aided by profit taking as short Usd
positions said to be looking stretched. 
* Cable marked a low of $1.3309 at Asia open before rate edged to $1.3338. 
* Usd recovery stronger vs Eur, allowed Eur/Gbp to ease to Gbp0.8925 in NY(off
earlier high of Gbp0.89665), consolidated in Asia. 
* UK Financial Stability Report 0700GMT. BOE Carney press conference follows at
0730GMT.  
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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