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S&P warning that a no-deal Brexit.....>

EURO-STERLING
MNI (London)
EURO-STERLING: S&P warning that a no-deal Brexit looking more likely causes
ratings concerns shove sterling lower Tuesday, EUR/GBP managed to extend the
break above Gbp0.8900 to Gbp0.8939, settling back around Gbp0.8925 into the
close. Demand in early Asia edged rate back to Gbp0.8932 before it turned lower
as cable recovery overtook EUR/USD. Cross squeezed down to Gbp0.8916 in early
Europe but retains an underlying buoyant tone. The 1.0% 10-dma envelope has
pushed up to Gbp0.8952, the rate tending not to like to move outside of this
parameter for too long. Support seen back at Gbp0.8900. Month end flows could
keep rate prone to upside moves. 
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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