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Extended recovery high to $1.3236, after......>

CABLE
MNI (London)
CABLE: Extended recovery high to $1.3236, after breaking out of its earlier
Asian range of $1.3208/33 but position adjustments ahead of UK Services PMI at
0830GMT prompts some paring back of sterling longs, though the pound retains an
underlying buoyant tone. Cable currently trades around $1.3227, Eur/Gbp
Gbp0.8951, off its recently posted intraday low of Gbp0.89475 (Asia
Gbp0.8959/69). Market median for Services PMI (the most important of the UK PMI
set) seen at 53.6 vs last 53.4. Cable support seen at $1.3208 ahead of $1.3190.
Resistance $1.3250/55, stops above. With BOE MPC today reactions could be muted.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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