Free Trial

Wednesday's Parliament prorogue headlines.....>

CABLE
MNI (London)
CABLE: Wednesday's Parliament prorogue headlines saw cable pressed to a weekly
low of $1.2157 before it bounced back to $1.2253. Since then rate has pared back
that recovery, suggestion that move seen on month-end flow as model predictions
suggest USD demand, increased in part ahead of this weekend's US Labor Day
holiday. Cable saw a low of $1.2172 Thursday, closing the day at $1.2182.
Bloomberg chart shows rate hit a high of $1.2200 in opening Asian trade before
it eased off to $1.2175. Rate recovered to $1.2192 into Europe, currently around
$1.2180.
- Month-end flow to provide directional influence with traders also watching for
any political Brexit developments.
- Support $1.2175/70, $1.2157/50. Resistance $1.2200, $1.2230/35, $1.2250/55.   
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.