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Recovery off Thursday's low of $1.3805........>

CABLE
MNI (London)
CABLE: Recovery off Thursday's low of $1.3805 extended to $1.3824 in Asia (NY
high $1.3914) as sterling retained its recent buoyant tone, able to take full
advantage of a softer Usd. Cable has since drifted back, making a show under
$1.3900 in early Europe as Eur/Gbp pares back some of its recent losses and seen
challenging its Asian high of Gbp0.8818. Main focus set on release of UK Retail
Sales at 0930GMT, market median ex-fuel -1.0%mm, 2.6%yy; including fuel -1.0%mm,
2.6%yy. Data set covers 'cyber Monday' which could provide for surprise.
Barclays see chance for a 2.0%mm contraction, 1.6%yy.
* Support $1.3887(Asia low), $1.3865/55. Resistance $1.3924, $1.3942. 
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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