Free Trial

Early sterling strength allowed.......>

EURO-STERLING
MNI (London)
EURO-STERLING: Early sterling strength allowed EUR/GBP to touch a low of
Gbp0.8302 but failed to break back below to challenge Friday's post election
react low of Gbp0.8276(YTD low). Move saw cable break back above $1.34 to touch
$1.3422 before losing momentum and eased back below the figure. EUR/GBP has
edged back to Gbp0.8327. Despite the current recovery the rate remains outside
of the base of its 1.0% 10-dma envelope, which currently comes through at
Gbp0.8341. A break back within to open a move toward Friday's recovery high of
Gbp0.8388, with the 10-dma at Gbp0.8425. Release of EZ flash PMI's, followed by
the UK flash PMI's will attract attention but election developments to
overshadow. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.