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This cross proving the most...........>

EURO-STERLING
MNI (London)
EURO-STERLING: This cross proving the most reactive to Brexit news, a boost to
sterling provided by suggestions PM May has flown to Strasbourg for last minute
negotiations, ahead of Tuesday's meaningful vote, whilst others note BBC's Laura
Kuenssberg tweets: "Senior ERG members believe Attorney General and No 10 have
some kind of deal to put to Parliament tomorrow - IDS, Steve Baker and Owen
Paterson have just gone into see the Chief Whip". EUR/GBP had seen an extended
high of Gbp0.8676 before this news broke, dropping after to a low of Gbp0.8542.
Earlier in the day Barclays had sent out a trade recommendation to short EUR/GBP
(spot ref at Gbp0.8630), targeting at Gbp0.8400, placing stops at Gbp0.8760,
adding that in their view, 'after the sequence of Brexit votes in the UK, GBP
should benefit from decreased uncertainty.
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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