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Pressured to Gbp0.9099 in initial.....>

EURO-STERLING
MNI (London)
EURO-STERLING: Pressured to Gbp0.9099 in initial demand before punching through
to Gbp0.9118, the move providing the weight to take cable to a fresh YTD low of
$1.1994, after stops were triggered on the break of previous YTD low of $1.2015.
Cross currently trades back around Gbp0.9109(Sep02 high). Cross seen building on
its move above its 10-dma, currently coming through at Gbp0.9075, which if
maintained seen exposing the topside of its 1.0% 10-dma envelope, currently at
Gbp0.9166. Interim resistance seen at Gbp0.9120/25 ahead of Gbp0.9146(21-dma). 
- PM Johnson threat of calling a snap general election, Oct14 being mentioned by
several political pundits, if he doesn't get the support of 'rebel' Conservative
MP's. Talk also that Labour, though wanting a general election, will not support
one if it is called ahead of the Oct31 Brexit deadline. Johnson needs a 2/3
majority in parliament to call an election. 
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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