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Trades back at $1.3170, after its earlier.....>

MNI (London)
CABLE: Trades back at $1.3170, after its earlier drop back to $1.3135. Traders
point out that rate has met support in the mid $1.3130's several times now.
Several reports read this morning suggests market expecting a weak start to Q4
for UK Retail Sales and suggest market may well be positioned for this. However,
if numbers come in well below forecast it could still provide for a downside
move but expect profit take demand to quickly move in to cushion any negative
react. Surprise would be more on a stronger than forecast set of data and likely
to provide a sharp move higher. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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