Brexit remains the key driver of sterling.....>

CABLE: Brexit remains the key driver of sterling direction. Wednesday's UK

Parliament vote now deemed not meaningful, this has been pushed out to Mar12,

but amendments will be watched. PM May still believes possible to leave the EU

on Mar29 but if her deal fails to gain Parliamentary approval could see Article

50 delayed, up to two months according to the Telegraph; Guardian report

suggests it would mean the UK remaining in the bloc until 2021. Cable recovered

off its Friday low of $1.2968 to $1.3080 as market reacted to a comment in the

Sun suggesting the Cooper-Letwin amendment, which would take a no-deal scenario

off the table, has a chance of passing. Rate drifted back but was able to close

above $1.3050 at the close. Rate lifted to an early high in Asia of $1.3078

before it dropped back to $1.3054 but was able to slowly recover back to the

earlier high into Europe.

- BoE Gov Carney & FCA Chief Bailey speak today. Carney speaks again Tuesday,

along with BoE Ramsden, Vlieghe & Haskel. 

- Cable support $1.3050/40, $1.3000, $1.2968. Resistance $1.3080,

$1.3095-1.3110.