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Cross touched a low of Gbp0.8861 in...>

EURO-STERLING
MNI (London)
EURO-STERLING: Cross touched a low of Gbp0.8861 in reaction to the stronger than
forecast UK CPI data Wednesday but bounced to Gbp0.8919 as sterling longs were
squeezed in a sharp reaction to comments that UK and EU remain at an impasse
concerning the Irish border in Brexit negotiations. However, sterling buyers
quickly moved in to counter this react and took the cross back to Gbp0.8871 with
recovery efforts caped below Gbp0.8890. Rate opened Asia around Gbp0.8880,
touched Gbp0.8889 before it drifted off to Gbp0.8880 into Europe. Early demand
in the new session sees rate retest that Gbp0.8900 level, holding so far but
pressure remains at writing. A break to expose Gbp0.8900. Support remains into
Gbp0.8860 ahead of Gbp0.8854. UK Retail Sales provides data interest but
potential Brexit headlines overshadow. 
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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