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Extended recovery, off Thursday's pre BOE.....>

MNI (London)
CABLE: Extended recovery, off Thursday's pre BOE MPC announcement low of
$1.3102, to $1.3282 in early Europe, breaking above its NY/Asia highs of
$1.3270/67 respectively. Interesting to note that reports overnight that
European airplane maker Airbus is preparing to move business out of the UK over
Brexit concerns(Times online) had little to no negative effect on sterling.
Having touched that extended high the rate has since eased off to $1.3266 as
EUR/GBP continues to recover off its earlier low of Gbp0.8752. Cable resistance
now seen between $1.3288/98. Support remains at the Asia low of $1.3238,
stronger into $1.3200. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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