Free Trial

Sterling remains on the back foot as cable....>

MNI (London)
CABLE: Sterling remains on the back foot as cable eases to a fresh intraday low
of $1.3115, just shy of Tuesday's low of $1.3114 seen in NY. Expect some demand
interest into $1.3100, a break to open a deeper move toward $1.3087/80 ahead of
$1.3060/55(Oct9 low/100-dma). Position adjustments ahead of today's UK Q3
advance GDP data (median 0.3%Q/Q), the numbers the last hard data ahead of the
next BOE MPC meeting. A miss could influence the voting as many expect the Bank
to hike 25bps. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.