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Saw an extended low of Gbp0.8668 as...>

EURO-STERLING
MNI (London)
EURO-STERLING: Saw an extended low of Gbp0.8668 as sterling gained a decent
boost in reaction to the BOE MPC, hawkish vote split seen supporting a hike in
May. This move caused the cross to clear below its 1.0% envelope base (drawn
around the 10-dma), Mar22 at Gbp0.8725, but as mentioned the rate tends to not
like being outside of this envelope for too long. Rate had edged back within by
the NY close. Today the 1.0% envelope base comes in at Gbp0.8711. To add, rate
normally doesn't move outside of its 2.0% envelope, today coming in at
Gbp0.8623(Mar22 Gbp0.8637). 
* Option expiries of note for today's NY cut, Gbp0.8725(E802mn),
Gbp0.8775(E1.1bn) 
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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