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Cable recovery drives Eur/Gbp below...>

EURO-STERLING
MNI (London)
EURO-STERLING: Cable recovery drives Eur/Gbp below its earlier base of
Gbp0.8817, extending the corrective pullback away from the earlier high of
Gbp0.8841 to Gbp0.88085. The cross currently trades around Gbp0.8810. Traders
have mentioned model sell interest in cable around the $1.3420 level (sometimes
proves magnetic), adding that apart from the large cable expiry at
$1.3350(Gbp2.15bn) the cross also has a decent sized expiry at Gbp0.8775 for
today's NY cut, E775mn. 
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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