BOE Carney comments on the relative merits....>

CABLE: BOE Carney comments on the relative merits of near term stimulus Thursday

prompted sterling outflows which pressed cable to an eventual low of $1.3013

into NY. Move also took EUR/GBP back above its key technical 10-dma but closed

the day back below. Cable recovered through the US session to $1.3069, closing

the day at $1.3067. Early consolidation in Asia, marked a low at $1.3060 before

it extended recovery to $1.3092 into early Europe. Recovery was aided by the

squeezing out of short positions, taken into the recovery to $1.3050. Rate saw

some headwind resistance off the highs, easing rate back to $1.3075. Some

suggest that Thursday's moves provided a decent general position clear out ahead

of today's key US Employment Report release. 

- A light data calendar for the UK Friday with attention on BOE MPC Tenreyro,

speaks at 0930GMT on Labour Market Outlook with market watching for any

reference to Carney comments yesterday. 

- Cable support $1.3060/50, $1.3015/00. Resistance $1.3100, $1.3120/25,

$1.3140/50.