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MNI (London)
EURO-STERLING: Tuesday's brief sojourn outside the top of its 1.0% 10-dma
envelope, touched Gbp0.9113 before retreating back inside the envelope, closing
the day at Gbp0.9080. Cross continued to drift lower through Wednesday, touching
Gbp0.9044 into the 1600BST fix before settling around Gbp0.9060. Rate remains
above its key technical 10-dma, currently at Gbp0.9013, which is seen keeping
underlying tone buoyant, with the top of the 1.0% 10-dma envelope by time moving
up to Gbp0.9103 ahead of Tuesday's high. UK Employment Report Thursday and ECB
monetary policy meeting seen as key event risks for the cross.  
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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