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Cable: Sep1 NY range $1.2930-95....>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Sep1 NY range $1.2930-95. Sep4 Asia open $1.2955, range
$1.2940-68. Current $1.2952(0500GMT
* Eur/Gbp: NY range Gbp0.9150-0.9220. Asia open Gbp0.9160, range Gbp0.9160-75.
Current Gbp0.9175(0500GMT)
* Cable touched $1.2995 on initial NFP react then reversed to $1.2940. recovery
to $1.2978 then settled between $1.2950-60. 
* The headline miss in NFP, as well as disappointing AHE drew suggestions that
result would not deter another Fed rate hike. 
* N.Korea weekend nuclear test prompted risk off plays into the early Asia open.
* Cable closed in NY at $1.2941, opened Asia $1.2955 the dipped back to mark
lows of $1.2940.
* Rate recovered as Tokyo walked in, corrected the Usd/Jpy react dip, with risk
off positions pared took cable to $1.2968. 
* Rate slowly drifted off into the Asian afternoon, settled between $1.2950/55
into Europe.
* US Labor Day expected to keep markets fairly subdued.
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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