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Cable: Sep25 NY range..............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Sep25 NY range $1.3432-1.3531. Sep26 Asia open $1.3470,
range $1.3450-83. Current $1.3481(0443GMT)
* Eur/Gbp: NY range Gbp0.87755-0.8815. Asia open Gbp0.8800, range
Gbp0.8791-0.8802.
* Cable eased back from its early Monday high of $1.3570 to $1.3432 in NY before
it closed around $1.3470.
* Cable reversal was led by the negative reaction in the Eur to the German
election result.
* Eur/Gbp was pressed down to Gbp0.87755 in NY but move was not enough to offset
Eur/Usd slippage effect on cable. 
* Cross edged back to Gbp0.8815 before it closed around Gbp0.8800.
* Cable slowly extended its recovery to a high of $1.3484 into Europe.
* Further fallout expected from the German election, effects on Brexit
negotiations, to influence. UK Mortgage Approvals 0830GMT.
* Eur/Gbp support Gbp0.8775, resistance Gbp0.8800-15. Cable support $1.3430,
$1.3410/00. Resistance $1.3485, $1.3500. 
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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