Cable dropped into the Asia open, last........>

CABLE: Cable dropped into the Asia open, last trades at $1.3120, 37 pips worse

off on the day & slightly off lows. The move was driven by an update to the

Yougov/Times MRP election poll, which now forecasts a Tory majority of 28 sits

after the voting booths close in the UK on Thursday. The MRP poll published last

month predicted a wider, 68 seat Tory majority. Furthermore, YouGov's Anthony

Wells commented that "based on the model we cannot rule out a hung parliament."

- The YouGov MRP poll is closely watched as it uses a different methodology than

most other polls, which many think is better suited to reflect the reality of UK

electoral system. It accurately predicted the hung parliament in 2017, whereas

traditional polling has a record of failing to provide accurate forecasts for

the British disproportional voting regime.

- Bears now look for a dip under the Dec 6 low of $1.3101, which would bring

into view the Oct 21 peak at $1.3013, the former breakout level. Bulls keep an

eye on Tuesday's fresh multi-month high of $1.3215.

- Cable finished a touch higher Tues. Unfazed by local econ activity indicators

it rose through the day, before sliding late doors on the YouGov poll.