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SHORT-STERLING OPTIONS

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EUR

EURUSD test session high

RUSSIA

OFZs Firm W/W, 10Y Stalls Out Above 6.80

Cable: Oct26 NY range..............>

STERLING SUMMARY
STERLING SUMMARY: Cable: Oct26 NY range $1.3150-1.3229. Oct27 Asia open $1.3161,
range $1.3113-62. 
* Eur/Gbp: NY range Gbp0.8852-0.8936. Asia open Gbp0.8853, range
Gbp0.8858-0.88675. 
* Cable was dragged lower Thursday by Eur/Usd slippage as traders reacted to the
ECB dovish taper.
* Eur/Gbp diverted a good proportion of the downside pressure as rate extended
recent lows to Gbp0.8852. 
* Cable found support at $1.3150, closed the day around $1.3160, Eur/Gbp around
Gbp0.8858.
* Cable extended lows in Asia to $1.3113, again tracked Eur/Usd as this rate
eased to $1.1625 support. 
* Cable edged back to $1.3140 before it settled around $1.3130. Eur/Gbp edged
back above Gbp0.8860 and consolidated.
* Post ECB taper fallout to drive markets Friday in an otherwise fairly data
light session. ECB speakers in focus.    
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com