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Cable: Oct20 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Oct20 NY range $1.3161-1.3201. Oct23 Asia open $1.3188,
range $1.3170-1.3203. Europe open $1.3198.
* Eur/Gbp: NY range Gbp0.8924-69. Asia Gbp0.8934, range Gbp0.8910-28. Europe
open Gbp0.8917. 
* Cable recovered off its Friday low of $1.3088 to $1.3201 ahead of the London
fix, dipped to $1.3174, closed around $1.3190. 
* Eur/Gbp pulled back from its high of Gbp0.9022 to a low of Gbp0.8924 posted
into the close. 
* Positive comment from some EU officials concerning Brexit progress, mention of
second stage talks by Dec boosted sterling. 
* Cable struggled to recover in early Asia, despite Gbp/Jpy marked up following
Japan Abe's landslide win.
* Rate touched $1.3193 then dropped back to $1.3170 then steadily recovered  to
$1.3203 ahead of Europe. 
* Brexit and Catalonia developments remain in focus for direction.
* UK CBI Trends at 1000GMT, though overshadowed by UK Wed's UK Q3 advance GDP. 
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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