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Cross continued its rally off its.....>

EURO-STERLING
MNI (London)
EURO-STERLING: Cross continued its rally off its May6 low of Gbp0.8490, touched
a high Wednesday(May22) of Gbp0.8840 before it settled back  around Gbp0.8800
into the close. Political fallout from Brexit continued Wednesday, Leader of the
House Leadsom resigned her post with reports that other Cabinet colleagues have
advised PM May to step down. Decision for this speculated for Friday or next
Tuesday, after today's European elections or the approaching long UK Whitsun
weekend. Blanket reporting ban due to the European election should keep Brexit
comments on hold for today at least. EUR/GBP currently sits back within its 1%
10-dma envelope, topside of which currently comes through at Gbp0.8828, trades
around Gbp0.8818 at writing. 
- Resistance Gbp0.8840/50, Support Gbp0.8790.  
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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