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EURO-STERLING
EURO-STERLING: Sterling given a boost Tuesday as former Brexit Secretary was
knocked out of the Conservative race. Raab was seen in favour of leaving by
Oct31 with no-deal if the EU would not renegotiate. Rate had seen an extended
high of Gbp0.8975 before it sank back to Gbp0.8911 ahead of the close. Asia
extended the pullback to Gbp0.8907, meeting support around the 10-dma
(Gbp0.8908), before it edged back toward the earlier intraday high of Gbp0.8918.
If rate can remain above the 10-dma it keeps the upside in focus, a break and
clear to expose next support at Gbp0.8880/70.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com