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GBPUSD TECHS

Corrections Remain Shallow

FED

Reverse Repo Operation, Inching Higher

PIPELINE

$1.5B Royal Bank of Canada 10Y Launched

COMMODITIES

WTI Remains Bullish, on Track for Cycle High Close

US TSYS/SUPPLY

2Y Auction ​Review: Small Stop

*Dec13 cable open $1.3319, range...>

STERLING SUMMARY
STERLING SUMMARY: *Dec13 cable open $1.3319, range $1.3315 to $1.3333. Eur/Gbp
open Gbp0.88155, range Gbp0.88155 to 0.8823
*Cable opened in Asia toward the lower side of the $1.3303 to $1.3380 range seen
yesterday, where modest dollar strength was the theme, supported by
better-than-expected US data and firmer UST yields.
*Euro-sterling opened in Asia toward the middle of yesterday's Gbp0.87905-8847
range, where stronger than expected UK CPI underpinned the pound 
*Cable consolidated between $1.3315 and $1.3327 for a great deal of the session
*News that Democrat Jones had defeated Republican Moore in Alabama's Senate
election caused a brief bout of dollar weakness, cable pushed up from around
$1.3318 to $1.3333 before fading
*With the focus on the dollar, Eur/Gbp consolidated in a extremely narrow
Gbp0.88155-0.8823 range
*Key-support lies at $1.3295 (50% fib $1.3040-$1.3550), a break to expose
$1.3235 (61.8% on the same move), while hourly resistance is found at $1.3370.
*UK Labour report provides the initial event risk for the session ahead.