Brexit ping-pong continued Tuesday as.........>

CABLE: Brexit ping-pong continued Tuesday as market watched Parliamentary

process with the indicative voting, reacting to reported comment that ensued.

Cable had seen an early high in Asia of $1.3224 after the indicative voting

amendment was passed but react momentum quickly faded and rate drifted off to

$1.3179 ahead of the European open. Fresh demand emerged into Europe and took

rate to $1.3223, just shy of the earlier high before it too was repulsed, this

time back down to $1.3158 on reaction to DUP comment that they would not support

PM May's Bill(Not Dodds or Arlene Foster but was Sammy Watkins who said No and

he is seen as the hardest to turn). However, reported comments from some of the

ERG suggesting they may 'with reluctance' vote for PM May's Withdrawl Bill

provided a pop to a fresh intraday high of $1.3262 before rally again ran out of

legs and drifted off to $1.3200, settling between $1.3200-15 after the Europe

close. Market remains Brexit driven but now wanting something more concrete to

produce a sustained move. Betfair odds have moved in to 6/4, from 3/1 Monday,

but not passing remains favourite at 4/6.