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Saw an early Europe dip to............>

EURO-STERLING
MNI (London)
EURO-STERLING: Saw an early Europe dip to Gbp0.8881 (Asia range Gbp0.8892-96)
before strong demand emerged to take rate to a high of Gbp0.8912 in what some
suggested to be month-end interest. Move took rate above the 10-dma (Gbp0.8905)
but struggled to make further gains, settling back around that dma in early NY.
A move above Gbp0.8912 would now expose the Jul24 high of Gbp0.8927. Support
Gbp0.8875/65. Markets generally slow as we start a data loaded week, sterling
interest set on Thursday's BOE MPC rate announcement with most forecasting a
25bp hike.  
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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