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General USD strength being felt by sterling...>

CABLE
MNI (London)
CABLE: General USD strength being felt by sterling though the UK pound proving
more resilient than the EUR. However, cable has been pressed back from its
impressive rally high to $1.3350, seen Wednesday Feb27, with pullback extending
to $1.3254 post month-end fix before it closed around $1.3260. Consolidation
through Asia saw rate confined to a relatively tight range of $1.3253-66, with
early Europe, reacting to fresh USD demand(led by the strong recovery rally in
USD/JPY), pressing rate to $1.3242 at writing. Support noted into $1.3235/30
ahead of $1.3200. Resistance $1.3315/20 ahead of $1.3350. 
- As often said, Brexit the main driver of sterling direction though attention
will be turned toward release of UK Mfg PMI at 0930GMT, along with UK Money
Supply and Mortgage data.  
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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