Cable again remained under pressure,..........>

CABLE: Cable again remained under pressure, similar to Monday's trade, though

rate extending losses. Rate did manage to recover off its early Europe low of

$1.2923 to $1.2964 into the NY open but again faltered ahead of recent recovery

caps at $1.2970. USD/JPY recovery, as equity markets corrected some of their

recent losses, with EM and Scandi currencies seen as the main beneficiaries, saw

EUR/USD and Cable pressed lower in NY, the latter to an extended low of $1.2907

with recovery efforts again struggling. Risk aversion remains in play, though a

little alleviated, with the current Brexit impasse continuing to weigh, despite

reports PM May has asked for a meeting with Labour Corbyn at 1745GMT(though

market not expecting much ground breaking developments). Cable support seen into

$1.2900, a break to expose the Apr25 low of $1.2866. Resistance $1.2930,

stronger into $1.2970.