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Saw a high of Gbp0.9052 Wednesday.....>

EURO-STERLING
MNI (London)
EURO-STERLING: Saw a high of Gbp0.9052 Wednesday before rate dropped back to
Gbp0.8956 as sterling gained a general boost on reported German lawmaker
comments concerning Brexit. Counter comment suggesting German Govt stance on
Brexit hadn't changed took the shine off the pound and allowed the cross to
recover to Gbp0.9018 before it settled around Gbp0.9010 through to the close.
Consolidation continued in early Asia, though rate was able to post a high of
Gbp0.9019 before it drifted lower through the European open to Gbp0.9004, the
last dip aided by release of weaker than forecast German Factory Orders. Rate
currently trades around Gbp0.9008. Rate remains well confined within its oft
mentioned 10-dma 1.0% envelope; 10-dma Gbp0.9015, envelope Gbp0.8925-0.9105.
Brexit headline watch remains key.  
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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