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Also felt the effect of 10-Yr UST yield.......>

CABLE
MNI (London)
CABLE: Also felt the effect of 10-Yr UST yield pushing above 3.0% into the
European open. Cable was shoved down to $1.3540, further extending its
corrective pullback from its brief show above $1.36 Monday when rate posted a
high of $1.3608. Support is noted at $1.3535-34(May14 low/50% $1.3460-1.3608)
ahead of $1.3517(61.8% $1.3460-1.3608). Move lower seen in tandem with EUR/USD
with EUR/GBP holding below Gbp0.8800. UK domestic focus today is on release of
the UK Employment Report at 0830GMT. Main attention will be turned toward the
earnings component, any miss likely to dent current outlook for a UK rate hike
before the end of 2018. Watch for Brexit headlines, reports in the press say PM
May has admitted to Conservative MPs that Brexit negotiations are at an impasse
because neither of her current options for a customs deal with the EU will work.
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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