Brexit concerns were to the fore Monday as....>

CABLE: Brexit concerns were to the fore Monday as sterling came under general

pressure. Early Europe saw cable drop from around $1.3000, the move aided by a

major US bank's TOTW sell cable recommendation, to an eventual low of $1.2920

ahead of NY. The US session pared the earlier USD gains, squeezed out some of

the shorter term speculative shorts that took rate back up to $1.2952 before

rate settled around $1.2940 into the close. Consolidation in Asia saw rate held

within a tight range of $1.2938-49. Traders remain on Brexit headline watch, any

further no-deal Brexit talk will add further downside pressure on the pound but

with market sitting short could be vulnerable to any positive comment,

especially from the EU, that a deal remains possible.