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CABLE: Cable deals 20 pips or so higher at $1.2737, with the USD edging lower in
early Asia-Pacific trade, The comes after the rate shed 60 pips on Tuesday,
edging steadily lower on the day.
- Tuesday saw MPs inflict another Brexit defeat on the gov't as the Commons
backed measures designed to stifle preparations for a no-deal Brexit, with a
focus on funding. Elsewhere, the Independent reported that "at cabinet the Prime
Minister acknowledged defeat could be on the cards next week (re: the meaningful
vote), telling ministers she would "move quickly" to make a statement if her
- From a technical perspective, cable failed to clear $1.28 with the subsequent
reversal extending back under the 50-DMA. Bears look for a downside break of
$1.2600. The $1.2800 level remains a stumbling block for bulls.