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Holds below its key 10-dma............>

EURO-STERLING
MNI (London)
EURO-STERLING: Holds below its key 10-dma (currently coming through at
Gbp0.8735; current rate Gbp0.8706) and seen keeping the recent underlying
bearish tone in place. However, the divergence away from the 10-dma not seen
enough to provide a strong directional indicator as yet though a break of
Gbp0.8700 would bring the base of the 1.0% 10-dma envelope(currently at
Gbp0.8648) into view. Month-end approaching as well as Thursday's ECB
meeting/policy announcements which should provide stronger impetus. 
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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