As reports came in that ERG members were......>

CABLE: As reports came in that ERG members were slowly coming in line behind PM

May's Bill Wednesday so cable edged up to a high of $1.3269, the PM has offering

to step down if the Bill is passed. However, the DUP remains resolute that they

will not accept the Bill with the current Irish border back stop arrangement has

produced a counter to sterling strength. UK Parliament showed, via their

indicative voting last night, that there is no clear consensus for Brexit, and

added further pressure on the pound. Cable eased to $1.3189 into Wednesday's

close with early Asia extending the move to $1.3143, with additional weight

given by the early risk aversion tone. Positive comments on the US-China trade

talks eased that aversion and allowed cable to recover back toward $1.3200 into

Europe. Traders comment that rate continues to pivot $1.32, adding that they see

rate in a basic $1.3150-1.3250 range, though with brief moves outside. Until

there is a definite Brexit result this scenario could continue. Support

$1.3150/40, $1.3110/00. Resistance $1.3250, $1.3270. A light UK calendar, Brexit

headlines remain key.