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Cross managed to make a show above....>

EURO-STERLING
MNI (London)
EURO-STERLING: Cross managed to make a show above its 10-dma Friday but
month-end pressure on EUR/USD pressed rate back from a Gbp0.9082 high to
Gbp0.9020, closing the week/month at Gbp0.9036. Sterling came under fresh
pressure in opening Asian trade as market reacted to weekend comments. Alain
Carrier, European boss of Canada Pension Plan Investment Board, said he was
"very cautious" about investing in the UK, warned Britain risks losing its
reputation as a safe haven for investment. PM Johnson issued an ultimatum to
rebel Tory MPs that they will be expelled if they try to stop no-deal Brexit (UK
Parliament returns Tuesday after their summer recess - focus on the Brexit
no-deal debate). EUR/GBP was initially shoved up to Gbp0.9060 but settled for
the main part around Gbp0.9040.
- The failure to build on its show back above the 10-dma exposes the base of the
1.0% 10-dma envelope, currently at Gbp0.8990. The 10-dma line currently comes
through at Gbp0.9081. 
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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