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Recovery away from the BOE MPC........>

EURO-STERLING
MNI (London)
EURO-STERLING: Recovery away from the BOE MPC react low of Gbp0.8855 extended in
Asia to Gbp0.8977 with rate holding firm at writing. Move brings the topside of
the 10-dma 1.0% envelope back into play, today coming through at Gbp0.9002. Not
a resistance line in itself but rate tends not to 'like' the area around this
level, and looking on the chart, usually reverses trend away. Sterling continues
to trade on the back foot due to Brexit concerns/comments suggesting a no-deal
Brexit becoming more likely. Market is sitting short sterling and could be
leaving itself exposed to any positive Brexit comment. 
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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