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USD strength remains the key market...>

EURO-STERLING
MNI (London)
EURO-STERLING: USD strength remains the key market driver with GBP and EUR both
feeling the pressure. This has acted to take full negative pressure off of GBP
and has allowed EUR/GBP to ease away from its traded high of Gbp0.8850(May24) to
currently consolidate around Gbp0.8820. Cross had been tracking the topside of
its 1.0% 10-dma envelope, which had been rising steeply, the rate's
consolidation now sees it ease back toward its 10-dma, today coming in at
GBP0.8807(low Gbp0.8808). A break below to expose the envelope base line,
currently at Gbp0.8719. 
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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