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The post election corrective..........>

EURO-STERLING
MNI (London)
EURO-STERLING: The post election corrective pullback in sterling had taken the
cross from probing the base of its 2.0% 10-dma envelope(Gbp0.8276) to challenge
the topside of its 1.0% 10-dma envelope(Gbp0.8517) Wednesday. Rate usually
doesn't like to stray too far outside of its 1.0% envelope, the failure to break
outside has seen it ease to Gbp0.8482. Topside of the envelope by time has moved
to Gbp0.8518, with the 10-dma, which could now beckon, edging to Gbp0.8434. 
- Focus to day on UK Retail Sales and the BOE MPC monetary policy announcement.
Politics remains a key driving force, the Queen's speech will be watched for
Govt policy, especially concerning the UK's withdrawl from the EU(Brexit). 
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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