*Dec14 cable open $1.3420, range...>

STERLING SUMMARY: *Dec14 cable open $1.3420, range $1.3398 to $1.3449. Eur/Gbp

open Gbp0.8822, range Gbp0.87985-0.8825

*Cable opened in Asia toward the upper side of yesterday's $1.3313 to $1.3428

range, where broad-based dollar weakness was the theme amid softer US inflation

data and a perceived dovish Fed hike. Eur/Gbp opened in Asia broadly unchanged

from yesterday's open after holding a Gbp0.8783-0.8836 range

*News that PM May had lost a key Brexit vote in parliament late Wednesday, after

a group of her own MPs rebelled against the party line, pushed the pound down

from $1.3420 to $1.3398. The move proved fleeting, with cable quickly returning

to near $1.3420 and extending the move to $1.3428

*Cable then spiked higher from mid-$1.3420's to $1.3449, traders put the move

down to Eur/Gbp supply and for the balance of the session the pair held a

$1.3430 to $1.3444 range

*After consolidating around Gbp0.8820, a one-off order hit the market driving

the rate down to Gbp0.8798, recoveries were then held to Gbp0.8810

*UK Retail Sales and BoE provide the event risks for the session ahead