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Cable crumbles as markets taste No Deal.......>

FOREX
FOREX: Cable crumbles as markets taste No Deal risk
-Combative articles from UK cabinet ministers over the weekend prompted markets
to rush to price in a greater risk of a disruptive No Deal Brexit Monday,
sending sterling spinning in its worst session of the year. GBP/USD took out a
number of key supports, eventually bottoming out just above the $1.22 handle.
Onus shifts to the Bank of England, with markets now pricing in a
better-than-even chance of lower BoE rates by the end of the year.
-The USD was the main beneficiary, helping extending the USD index's recent
winning streak to seven sessions, with the year's highs of 98.371 well within
reach just ahead of anticipated Fed easing. The USD rally helped nudge USD/JPY
to the best levels in weeks, with resistance now eyed at the early July highs of
Y108.99.
-Japanese jobs data, French GDP and regional German CPIs are the calendar
highlights Tuesday. The Bank of Japan policy meeting is also due, with the Bank
seen keeping policy unchanged.

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