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Cable: Sep13 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Sep13 NY range $1.3185-1.3289. Sep14 Asia open $1.3206,
range $1.3200-16. Current $1.3203(0452GMT)
* Eur/Gbp: NY range Gbp0.8993-0.9028. Asia open Gbp0.9000, range
Gbp0.8991-0.9002. Current Gbp0.8996(0454GMT)
* Miss in UK AHE and chatter US tax reforms 'getting closer' took cable down
from $1.3329 to a NY low of $1.3185. 
* Cable settled above $1.3200 into the close before Asia extended the mild
recovery to $1.3216. 
* Rate then drifted lower before finding support/buoyancy above $1.3200 through
to Europe. 
* Sharper pullback in Eur/Usd allowed Eur/Gbp to close back below Gbp0.9000.
* Asia continued to squeeze cross lower, marked low at Gbp0.8991 with recovery
efforts capped below Gbp0.9000.
* UK BOE MPC. No change widely expected in rates/QE. Vote split expected to
remain 7-2(Haldane to move to hawkish for 6-3?)
* Cable support $1.3185, $1.3160/50. Resistance $1.3255/65.  
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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