Cable advanced yesterday, as risk rally.......>

CABLE: Cable advanced yesterday, as risk rally sapped strength from the

greenback, albeit headwinds to sterling may have limited the move. Over the

weekend, the Times reported that BoE Gov Bailey has warned lenders of challenges

associated with negative interest rates. Separately, Downing 10 is reportedly

preparing to phase out Huawei equipment from the UK's 5G network this year,

which may further strain the UK's relations with China.

- London's tensions with Beijing continued to simmer on Monday, with the Chinese

ambassador warning of consequences over the UK's moves vs. Huawei & Hong Kong.

- BoE Gov Bailey postponed a meeting with the Conservative Party's 1922

Committee, originally scheduled for Wednesday, due to a clash with a statement

from Cll'r Sunak. The new date is yet to be announced.

- GBP/USD sits at $1.2494, little changed on the day. A breach of Jul 2/Jun 24

highs of $1.2530/43 would clear the way to the 61.8% retracement of the Jun 10 -

29 sell-off at $1.2599. Bears look for a dip through Jul 1 low of $1.2360,

towards Jun 29 low of $1.2252.

- BoE Chief Economist Haldane speaks on a webinar today.