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Free AccessBrexit uncertainty continues to keep the......>
CABLE: Brexit uncertainty continues to keep the pressure on sterling, weekend
comments from PM Johnson Aide Dominic Cummings that a EU no-deal exit is now too
late to stop, though disputed by former Attorney General Dominic Grieve,
counters any risk-off benefit. Cable did manage to edge to a high of $1.2188 at
the Tokyo open, as risk aversion was given a boost on the back of the ongoing
US-China trade spat, with sales of USD/JPY leading the move. However, cable
struggled to hold gains, backed off to $1.2141, before it settled around $1.2150
into Europe. Fresh sales emerged which has pressed rate to an extended pullback
low of $1.2112. Support is seen into $1.2100, a break to expose the Aug2/Aug1
lows of $1.2091/80 respectively. Resistance $1.2188.
- UK Services PMI data due at 0830GMT, median 50.3 though some see a chance for
a dip under 50 which if occurs would add to sterling negativity.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.