*Dec28 Asia open $1.3391, range....>

STERLING SUMMARY: *Dec28 Asia open $1.3391, range $1.3391 to $1.3422

*Cable opened in Asia toward the middle of the $1.3368 to $1.3429 range seen

yesterday, where broad-based dollar weakness continues to be the theme heading

toward the year end.

*Despite firmer US rate yields, the pound edged higher for most of the session,

climbing from $1.3391 before stalling at $1.3424, just below the $1.3429 high

seen yesterday.

*Option expiry for today NY cut at $1.3500(Gbp825mn), may attract some interest

nearer to expiry time.

*Eur/gbp opened in Asia at the lower side of yesterday's Gbp0.8855-0.88845

range, where broad-based range trading continued to be the main theme. 

*With the interest mainly on the dollar during the Asia session, Eur/Gbp

continued in consolidation mode.

* The next risk hurdle is seen in US markets, with the release of Initial

Jobless claims and Chicago PMI.