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CHF LIBOR FIX - 21-10-2021

EUROZONE

EUR LIBOR FIX - 21-10-2021

EURO-STERLING
MNI (London)
EURO-STERLING: Tuesday's break below the 10-dma (Gbp0.8527) provided the
technical impetus for a deeper corrective pullback toward the base of the 1.0%
10-dma envelope, at the time came through at Gbp0.8442, the rate touching a a
late low of Gbp0.8452, closing the year at Gbp0.8459. Cable month-end demand
outpaced EUR/USD's month-end rise and in turn drove EUR/GBP to those lows. Rate
consolidated these lower levels into Asia before it edged to a high of Gbp0.8492
but move ran into willing sellers placed toward Gbp0.8500, pressing rate back to
Gbp0.8472 in early Europe. 
- Whilst rate remains below its 10-dma(by time currently at Gbp0.8522) it will
keep the underlying bearish tone in place with support now seen at Tuesday's low
of Gbp0.8452, the base of the 1.0% envelope coming through at Gbp0.8436.
- No sign of month-end EUR/GBP demand, which can overhang into the new month,
but traders will be watching.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com