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Sterling continues to enjoy an underlying.....>

CABLE
MNI (London)
CABLE: Sterling continues to enjoy an underlying buoyant tone, progress in
Brexit negotiations, rate hike outlook as well as a general move back into risk
aiding. Cable has taken full advantage, the rate posting a high of $1.4245
Monday, breaking above its BOE MPC react high of $1.4219(Mar22) in the process,
with rate consolidating this move through Asia between $1.4223/39. Resistance
expected to remain in place between $1.4245/50, a break to expose next band of
resistance between $1.4275/85. Month-end approaching and early model projections
expect Usd demand to be seen at the fixes, which along with possible Eur/Gbp
demand, could see sterling face headwinds ahead of the Easter break. Cable
support seen back at the earlier Asian low of $1.4223, a break to open a deeper
move toward $1.4190/80.
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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