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Cross eventually broke above its......>

EURO-STERLING
MNI (London)
EURO-STERLING: Cross eventually broke above its 10-dma Thursday, having
initially met support at this line (Gbp0.8646). Rate rallied on to Gbp0.8676 but
closed the day back below its 10-dma. Asia took rate back above (currently at
Gbp0.8639) and its has basically remained above in slow Asia/early Europe trade.
If rate can hold above seen exposing the topside of the 1.0% 10-dma envelope,
which currently comes through at Gbp0.8725. Brexit remains the key driver for
sterling. Attention on the EU as it debates allowing an extension/flextension,
with PM Johnson pushing for a general election.  
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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