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Sterling seen under pressure in early.........>

CABLE
MNI (London)
CABLE: Sterling seen under pressure in early Europe trade, drops back from its
recovery high of $1.3369, moving through its earlier Asian low of
$1.3346($1.3345 Jun11 low) to $1.3342. Move seen probing for any weak stops
placed below the $1.3345/46 as rate edges back to $1.3349. UK Employment Report
at 0830GMT with main focus on earnings (market medians, unemployment 4.2%;
earnings 2.5% 3m/yy, ex-bonus 2.9%). Tuesday also begins the debate and voting
on the House of Lord's 15 amendments. 
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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