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Touched a low of Gbp0.8713 in early...>

EURO-STERLING
MNI (London)
EURO-STERLING: Touched a low of Gbp0.8713 in early European trade, extending the
lows seen in Asia of Gbp0.87155. Sterling was given a boost in Asia and into
Europe on a press report suggesting PM May to propose extending customs union
beyond 2021. However, sterling took a knock back as a PM spokesman denied the
report. EUR/GBP has edged back up to Gbp0.8740 but so far holds shy of retesting
its earlier Asian high of Gbp0.8756. Broken trend resistance, which capped
recovery efforts Wednesday at Gbp0.8755, today comes in at Gbp0.8761. The 10-dma
has now moved up to Gbp0.8779. 
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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