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Struggled to hold early Europe gains, which...>

CABLE
MNI (London)
CABLE: Struggled to hold early Europe gains, which had seen rate attempt to
retest the earlier Asian high of $1.3265. Rate currently trades around $1.3242
but holds well off its earlier low of $1.3220. Cable seen enjoying an underlying
buoyant tone though this seen more on current Usd softness as traders adjust
positions after Wednesday FOMC Minutes and ahead of Friday's key US CPI release.
Sterling remains defensive versus the Eur. Cable stops seen placed above $1.3270
with many traders viewing potential for a test on $1.3300. Support seen back at
$1.3220 ahead of $1.3180/70. 
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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