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Yields Bounce as Equities Make New Monthly Highs

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Heading North

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Bull Rally Accelerates

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Economists Survey Raises 2021 CPI Forecast To 4.9%

EURO-STERLING
MNI (London)
EURO-STERLING: Sterling's recovery, off its Tuesday lows, has allowed the cross
to extend away from the topside of its 1.0% 10-dma envelope, the rate Friday
morning able to ease below its 10-dma (currently at Gbp0.8519). If rate can
build on this slippage seen exposing the bottom side of its 1.0% envelope, which
currently comes through at Gbp0.8435. Interim support noted into Gbp0.8500 ahead
of Gbp0.8480/70 and Gbp0.8455/50. 
- The Gbp0.8500 level holds the strike of expiring options for today's NY cut
amounting to E1.27bln which could attract. 
- UK Retail Sales at 0930GMT though traders already looking ahead of to next
Friday's release of flash PMI's to gauge UK rate direction. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com