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Gets squeezed down to $1.3125 support.........>

MNI (London)
CABLE: Gets squeezed down to $1.3125 support (38.2% $1.3040-1.3178 ) as early NY
hunt for stops below the earlier base of $1.3138. Rate had been restricted to a
fairly tight range between $1.3138-60 through the European morning, said to be
anchored close to a decent sized option expiry at $1.3150 for today's NY
cut(Gbp829mn). Move lower in cable also saw Eur/Gbp ease away from its traded
low of Gbp0.8792 to currently trade around Gbp0.8810. Expect that expiry to
continue to attract ahead of the run off.   
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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