*Dec20 cable open $1.3386, range...>

STERLING SUMMARY: *Dec20 cable open $1.3386, range $1.3386 to $1.3402. Eur/Gbp

open Gbp0.8840, range Gbp0.8840-43

*Cable opened in Asia towards the upper side of the $1.3331 to $1.3402 range

seen yesterday, where the pound finished strongly in late NY on reports from

Downing St that PM May and President Trump had agreed on the importance of a

swift post-Brexit bilateral trade deal. Eur/Gbp opened in Asia toward the upper

side of yesterday's Gbp0.88035-0.8868 range, where stronger bund yields

underpinned the euro before fading into the close on the US/UK trade deal story

*Cable received a further lift in Asia from BBC article which claimed the BoE

will unveil plans to allow European banks to operate in the UK as normal

post-Brexit. The pound edged up from $1.3386 to $1.3402 before fading

*Eur/Gbp broadly consolidated with hardly a trade going through

*The domestic calendar is mostly barren, investors will look to the wires for

headlines on Brexit