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Breaks below its earlier Asian base of........>

CABLE
MNI (London)
CABLE: Breaks below its earlier Asian base of $1.2854, the move seen USD demand
led as rate tracks EUR/USD slippage leaving EUR/GBP mid intraday range. Cable
has extended easing to make a show under its Aug29 low of $1.2846 to $1.2844 but
move seen meeting some mild demand as it edges back to $1.2854. Next support of
note seen at the Aug27 low of $1.2829. Ex-MPC member Posen comments that he sees
outcome of Brexit as bad was seen adding further weight onto sterling. Attention
today on UK Construction PMI at 0830GMT, with BOE Carney appearance at the TSC
will be of interest after reports Monday suggested he is in discussions to
extend his tenure at the Bank. UK Parliament returns from Summer recess which
may increase the chance for Brexit headlines. 
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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