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Poor UK GDP data and continued........>

MNI (London)
EURO-STERLING: Poor UK GDP data and continued concern over the Oct31
brinkmanship for a no-deal Brexit acted to apply further negative weight on
sterling Friday, forced the cross to fresh YTD highs of Gbp0.9317. Rate was
marked lower into an early, Japan holiday, Asian session to Gbp0.9269, based on
risk aversion following Trump tweets late Friday. However, sterling quickly came
under fresh pressure with cross rallying back through Friday's high to an
extended high of Gbp0.9324 before it drifted back off to GBp0.9300 in early
Europe. Move higher takes rate back between the topside of its 1.0% 10-dma
envelope (Gbp0.9296) though holding inside the topside of its 2.0% envelope at
GBp0.9388. While rate holds outside of its 1.0% envelope it keeps the 2.0% line
in view. Break below to allow for a move back toward its 10-dma, currently at
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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