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Squeezes down to $1.2899, the rate............>

MNI (London)
CABLE: Squeezes down to $1.2899, the rate challenging reported demand around
$1.2900 but recovery efforts remain shallow and seen keeping focus on the
downside. Break below the figure to open a deeper move toward $1.2880, below
here and $1.2850 moves into view. Model interest to buy dips to $1.2850 get
reported. Eur/Gbp holds back above Gbp0.91, touched Gbp0.91155, currently around
Gbp0.9110. Resistance in the cross seen into Gbp0.9120(Gbp0.9119 Aug11 high)
ahead of Gbp0.9150.   
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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