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Release of disappointing Germany......>

EURO-STERLING
MNI (London)
EURO-STERLING: Release of disappointing Germany ZEW Tuesday acted to reverse
EUR/GBP's recovery rally, the rate having edged to Gbp0.8348 before it dropped
back through Gbp0.8300 to post a fresh YTD low of Gbp0.8282. Rate recovered to
Gbp0.8315 before it settled just above Gbp0.8300 into the close. Rate seen back
within its 1.0% 10-dma envelope, by time the base has eased to Gbp0.8296. Focus
on UK inflation data at 0930GMT, median outlook for CPI seen at 1.6%yy vs 1.3%
last; Core 1.5%yy vs 1.4% last. 
- Support Gbp0.8282, Gbp0.8250. Resistance Gbp0.8330/35, Gbp0.8350,
Gbp0.8380(10-dma)
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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