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Gbp/Usd: Dec11 close $1.3336,......>

STERLING SUMMARY
STERLING SUMMARY: Gbp/Usd: Dec11 close $1.3336, Dec12 Asia range $1.3333-54,
Europe $1.3321-80
*Eur-Gbp: Dec11 close Gbp0.8822, Dec12 Asia range Gbp0.8817-27, Europe
Gbp0.8805-45
*Cable opened in Asia toward the lower side of yesterday's $1.3331-$1.3432 range
where sentiment toward Brexit continued to ebb and flow and dictate direction
*Ahead of key-economic data the Asia session was a lacklustre affair, early
slippage to $1.3333 encountered dip buyers around the Dec11 low ($1.3331)
*Cable opened flat in Europe, early dealings were held to a narrow 15 pip range
*Sterling demand emerged with some attributing the move to Gbp/Jpy, cable
cleared the Asia high to $1.3364 but soon faded
*Cable held firm ahead of UK CPI and squeezed to $1.3380 on the strong release
(3.1% Y/Y vs median 3.0), rising crude oil prices was again the main driver
*Pullback off the high quickly pared all gains with sharp slippage extending to
$1.3321 amid light, choppy markets. The cross saw a quick jump to stg0.8845 on
react. Last Gbp0.8833, cable $1.3330.

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