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Gbp/Usd: Dec12 close $1.3317,......>

STERLING SUMMARY
STERLING SUMMARY: Gbp/Usd: Dec12 close $1.3317, Dec13 Asia range $1.3313-34,
Europe $1.3312-68
*Eur-Gbp: Dec12 close Gbp0.8819, Dec13 Asia range Gbp0.8810-25, Europe
Gbp0.8787-0.8824
*Cable lacked direction in Asia and largely consolidated $1.3315-27 
*News that Democrat Jones had defeated Republican Moore in Alabama's Senate
election caused a brief bout of dollar weakness, cable lifted from around
$1.3318 to $1.3333, but soon faded
*Sterling opened heavy in Europe with moves led via the crosses, cable slipped
to $1.3312 but quickly pared losses
*A quick spike to $1.3350 followed as traders reported of thin, choppy markets
*Short squeeze ahead of the UK Labour Report touched $1.3368, but quickly
drifted despite a slight pick-up in earnings growth. The unemployment rate
stayed at 4.3%, some analysts had expected a fall to 4.2%
*Eur/Gbp made a show back under Gbp0.8800 to print Gbp0.8787. Traders reminded
of the large E1.29bn Gbp0.8775 expiry for today's NY cut.

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