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Bund downside structures

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A gap lower for Stoxx600 on the cash open

SPAIN DATA

Spanish GDP Rose in Q2

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Opening calls

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Trades in  the red against all majors

GBP/USD: open $1.3373, Asia........>

STERLING SUMMARY
STERLING SUMMARY: GBP/USD: open $1.3373, Asia range $1.3368 - $1.3380, Europe
range $1.3378 - $1.3414.
* Cable opened in Asia toward the upper side of yesterday's $1.3348-$1.3388
range, where consolidation was broadly the theme.
* Held a modest bid tone throughout the European morning, gradually erasing
offers ahead of $1.34 before losing steam after session highs of $1.3414.
* Holiday thinned markets and lack of market data or central bank speakers will
keep the session flow driven.
* Option interest for tomorrow's NY cut at $1.35 (Gbp 825mn) will draw interest
if sterling maintains today's bid tone this afternoon and throughout the US/Asia
session.
*Eur/gbp opened in Asia at the lower side of yesterday's Gbp0.8866-0.88925
range, where range-trading continued to be the main theme before EUR/GBP broke
to equal Dec25 lows at Gbp0.8858. Next support in EUR/GBP seen at around Gbp
0.8839 with the Dec22 low.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com