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Sterling under fresh pressure as Europe.......>

MNI (London)
CABLE: Sterling under fresh pressure as Europe begins trading, seen as a
reaction to BOE Cunliffe comments on BBC radio earlier. Cunliffe noted concern
over household debt and gave no hints that he would move over to the hike camp.
Cable dropped through recent lows of $1.3102 to post a fresh YTD low of $1.3072.
Rate currently trades around $1.3086. EUR/GBP also felt the effect of the
pressure on sterling as it popped up to Gbp0.8838(Jun7 high), currently around
Gbp0.8828. EU leaders summit begins today with Brexit, along with migration, to
be the main topics for discussion, market to be on headline watch. Month-end
approaching. One early model predicted sterling buys to be seen but one more
recent doesn't see any major signals unless equity markets lurch lower today
which would strengthen a USD buy signal. EUR/GBP also tends to edge higher in
this period.  
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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