Trial now
BOND SUMMARY

EGB/GILT SUMMARY- Holding onto gains

SHORT-STERLING OPTIONS

Vol buyer

GBP

Cable look to test MNI tech resistance

US EURODLR FUTURES

Block, Red Pack

CABLE
CABLE: Brexit headlines still dominate GBP price action. Rocky weekend reports
weighed on GBP from the off on Monday. FT reports citing EU's Barnier's as
saying that the Brexit treaty text is "almost ready" according to sources put a
brief bid into sterling, before the reports were played down by officials.
- BuzzFeed noted that Senior cabinet ministers led by Brexit secretary Dominic
Raab will tell Theresa May that the current deal on offer from the EU is
unacceptable and she should prepare for the UK to leave with no deal if she
cannot secure further concessions.
- Elsewhere the Sun reported that Theresa May turned down a Brexit deal fudge
with the EU because she fears Parliament would shoot it down, it has emerged.
- May has noted that the negotiations are very difficult, but are reaching the
endgame.
- Cable last deals at $1.2858. Bulls need to recover the 100-DMA at $1.3026 to
change the short-term outlook. Bears target a break of $1.2800 level, to put
focus back on the Oct 31 low at $1.2699. UK labour market data is due Tuesday,
inflation data is due Wednesday & retail sales is due Thursday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com