Free Trial

Recovery off Monday's low of $1.3226..........>

CABLE
MNI (London)
CABLE: Recovery off Monday's low of $1.3226 touched a high in NY of $1.3264
before rate settled around $1.3245/50 into the close. Early demand in Asia
extended recovery to $1.3273 but momentum quickly faded on risk aversion react
to a WSJ report suggesting Trump looking to extend tariffs on a further $200bn
of Chinese imported goods. JPY was the main beneficiary though more pressure
seen on the EUR via EUR/JPY sales. The move back to Gbp0.8766 in the cross
provided some buoyancy for cable as it eased back to $1.3253. Cable support
$1.3244 ahead of $1.3226. Resistance $1.3275/85, stronger on approach to
$1.3300. A light calendar for the UK. Brexit debates could produce headlines.
ECB Draghi speaks in Sintra.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.