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*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

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