Free Trial

Sterling seen under pressure into early.......>

CABLE
MNI (London)
CABLE: Sterling seen under pressure into early Europe as cable breaks below its
Asian base of $1.3898 to $1.3881, while Eur/Gbp extends recovery to Gbp0.8835.
Traders reported main sterling sales seen from the leveraged and investor area,
with interest to also sell Eur and Aud. Next support in cable seen into the
Feb12 high of $1.3876, a break here to pen a deeper move toward $1.3855/50. UK
Q4 GDP at 0930GMT though most expect unchanged from first read of 0.5%qq,
1.5%yy. Brexit comment and general Usd strength remain drivers. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

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.