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

CABLE
MNI (London)
CABLE: Sterling continues to enjoy an underlying buoyant tone, cable extending
its recent recovery to $1.4190 in opening European trade(NY-Asia high $1.4188).
UK Trade and Mfg/IP data due for release at 0830GMT and provides the morning's
domestic focus. Market will try and gauge how the UK bad weather in March
affected production/Q1 GDP growth, though should have boosted IP data via fuel
demand with Mfg data only expected to see a minimal effect. Technical target at
$1.4193 moves within touching distance, 1.618% swing of the $1.4165-20 pullback
(Apr9-10), a break to expose next resistance around $1.4200 ahead of the $1.4220
area. Support $1.4170 ahead of $1.4150/45. US CPI and FOMC Minutes move into
focus through the NY session. 
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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