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Cable: Sep12 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Sep12 NY range $1.3228-1.3300. Sep13 Asia open $1.3281,
range $1.3275-1.3315. Current $1.3310(0450GMT)
* Eur/Gbp: NY range Gbp0.8985-0.9031. Asia open Gbp0.90055, range
Gbp0.89995-0.9011. Current Gbp0.9003(0454GMT)
* Stronger than forecast UK Inflation data Tuesday boosted suggestions for a
more hawkish leaning for Thursday's BOE Minutes. 
* Cable extended its recent recovery rally to $1.3300 in NY, overcoming a brief
Mnuchin US tax reform blip.
* Eur/Gbp dropped below Gbp0.9000 on data react, touched Gbp0.8982 before
recovery to Gbp0.9031.
* Cross eased back to settle around Gbp0.900 into the close. 
* Cable eased to $1.3280 ahead of close before Asia further extended rally to
$1.3315, the rate held firm into Europe. 
* UK Jobs Report at 0830GMT though main domestic focus remains on Thursday's BOE
meeting.
* Cable resistance $1.3315/20, $1.3350/60. Support $1.3275/65, $1.3250. 
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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