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Sterling remained on the defensive in Asia....>

CABLE
MNI (London)
CABLE: Sterling remained on the defensive in Asia with cable recovery efforts
remaining capped below $1.3440. Rate posted a fresh 2018 low of $1.3391 Monday
before it recovered to $1.3439 in early NY. Pullbacks remained above $1.3400
before rate edged back to $1.3430 ahead of the close. Rate touched $1.3438 in
early Asia, with corrective pullback this time finding support at $1.3415 into
Europe. Fresh demand lifted rate above $1.3430 but momentum quickly faded. Focus
today on BOE MPC members in front of the TSC explaining the latest Inflation
Report(0815GMT). UK Public Sector net Borrowing data due for release at 0830GMT.
Support remains from $1.3415 through to $1.3400, a break to expose Monday's low
of $1.3391. Market also remains on Brexit headline watch.  
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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