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Rate holds recent losses with.........>

EURO-STERLING
EURO-STERLING: Rate holds recent losses with EUR/GBP bottoming out at Gbp0.8711
as ECB's Weidmann was acutely downbeat about Germany's economic prospects and as
he stated that the process of ECB policy normalization is likely to take several
years. Gbp0.8710 is the near-term support, marking the 38.2% retracement of this
week's rally ahead of the recent lows at Gbp0.8618. Momentum indicators are
beginning tilt negative somewhat, with the 100-dma on the cusp of breaking below
it's 200-dma counterpart.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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