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Sterling remains in consolidation mode........>

CABLE
MNI (London)
CABLE: Sterling remains in consolidation mode following the recovery off
Monday's react lows of $1.3190(Boris Johnson Cabinet resignation), the rate
touching a high of $1.3301 in European morning trade Tuesday before it pulled
back to $1.3227 following release of UK GDP data(new monthly format). Since then
rate has settled within a basic $1.3250/80 range (Asia $1.3249-81), currently
trades around $1.3255. Brexit concerns have receded though political grumblings
continue. Fox agreeing to buy Sky at an increased price of Gbp14/share provides
a minor boost at writing, now trades around $1.3265. 
BoE Carney at National Bureau of Economic Research Conference on the "Global
Financial Crisis" at 1635BST, Massachusetts(No text) provides domestic interest
in a data light calendar.  
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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