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Recovery off Monday's early low of....>

EURO-STERLING
MNI (London)
EURO-STERLING: Recovery off Monday's early low of Gbp0.8720, as well as the
May17 low of Gbp0.8713, touched a high of Gbp0.8782 in late NY. Rate held just
shy of its May16 high of Gbp0.8783. In Asia trade was described as slow as it
consolidated around Gbp0.8780. Sell interest in early Europe pressed rate down
to Gbp0.8770 before interest faded. First support below this level noted at
Gbp0.8755. Above Gbp0.8783 and resistance seen into Gbp0.8800. The 1.0% envelope
banding comes in at base Gbp0.8684, top Gbp0.8859. Rate now back above its
10-dma, currently at Gbp0.8772. BOE Carney and other members of the BOE MPC
attend a TSC hearing on the Inflation Report at 0815GMT. UK Public Borrowing
data 0830GMT. Brexit headlines remain on watch. 
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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