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*Dec11 cable open $1.3380, range...>

STERLING SUMMARY
STERLING SUMMARY: *Dec11 cable open $1.3380, range $1.3380 to $1.3403.
Euro-sterling open Gbp0.87895, range Gbp0.8785 to 0.87935
* Cable opened in Asia toward the lower side of the $1.3358 to $1.3521 range
witnessed on Friday, where 'Buy the rumour, sell the fact' was the theme as EU
Juncker and PM May announced deal to take negotiations on to the next stage.
*After a quiet start cable rose from $1.3380 to $1.3403, sterling-yen demand was
the reported catalyst, there was some talk it may have been demand from Japanese
life companies 
*Once that interest subsided cable eased modestly to $1.3393 and currently holds
at $1.3394
*Euro-sterling consolidated a few pips either side of Gbp0.8790 in quiet
listless Asian markets.
*Tomorrow's UK CPI and Retail Price Index provides the next event risks

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