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Cable: Oct2 NY range...............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Oct2 NY range $1.3257-1.3312. Oct3 Asia open $1.3283,
range $1.3230-80. Current $1.3252(0450GMT)
* Eur/Gbp: NY range Gbp0.88215-0.88685. Asia open Gbp0.8835, range Gbp0.8830-48.
Current Gbp0.8833(0452GMT).
* Mix of general Usd strength and UK Govt under spotlight during week's
Conservative conference weighed on sterling Monday.
* Cable was sold off to $1.3257 in NY, lifted back to $1.3297 pre fix then
settled around $1.3280 into close.
* Cable slippage overtook downside pressure on Eur/Usd, took Eur/Gbp up to
Gbp0.88685, settled around Gbp0.8840 into close. 
* Early Asia saw cable consolidate between $1.3270/80 before a wave of Usd
demand emerged, pressed cable to $1.3230.
* Rate recovered to $1.3258 then settled around $1.3250 into Europe. 
* Eur/Gbp edged slowly to a high Gbp0.8848 then reversed to a low of Gbp0.8830
as Eur/Usd slippage outpaced cable. 
* UK Construction PMI in focus at 0830GMT along with BOE FPC Minutes.  
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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