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Cable: Sep5 NY range...............>

STERLING SUMMARY
MNI (London)
STERLING SUMMARY: Cable: Sep5 NY range $1.2953-1.3043. Sep6 Asia open $1.3036,
range $1.3027-44. Current $1.3032(0458GMT)
* Eur/Gbp: NY range Gbp0.9134-0.91795  Asia open Gbp0.9140, range
Gbp0.9135-0.91465.  
* Dollar came under pressure as US markets returned Tuesday, allowed cable to
extend recovery off $1.2908 to $1.3043.
* Late US reaction to N.Korea situation, Trump allowing S.Korea and Japan to
increase weapons purchase seen escalating crisis.
* Markets moved into increased risk off mode which kept dollar under pressure
into Asia.
* Cable eased to $1.3026 ahead of the close but was recovering into the Asia
open, the rate extended topside to $1.3044.
* Rate then drifted off through the balance of the session to $1.3027 ahead of
the European open. 
* A light UK calendar Wednesday with main focus on N.Korean developments with
UST yields back in the driving seat.  
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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