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Cable: Oct11 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Oct11 NY range $1.3175-1.3236. Oct12 Asia open $1.3223,
range $1.3220-65. Europe open $1.3260.
* Eur/Gbp: NY range Gbp0.8959-88. Asia open Gbp0.8968, range Gbp0.8954-70.
Europe open Gbp0.8957.
* Cable recovered off an early NY low of $1.3175, through the fix and FOMC
Minutes to $1.3236. Closed around $1.3225.
* Rally overtook Eur/Usd, allowed Eur/Gbp to ease from a post fix high of
Gbp0.8988 to Gbp0.8959, closed around Gbp0.8970.
* Cable touched an early Asia low of $1.3220 then recovered, picked up momentum
into Tokyo as rate edged to $1.3265. 
* Pullback to $1.3240 before rate edged back to $1.3260 into Europe. Eur/Gbp
drifted off to Gbp0.8954.
* Move up in cable seen mainly Usd driven following release of FOMC Minutes.
* FOMC Minutes seen supporting a Dec rate hike though emphasized importance of
inflation data going forward(Fri US CPI).
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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