Cable edged higher in an apparent dead cat....>

CABLE: Cable edged higher in an apparent dead cat bounce, as no reassuring

headlines were noted, but has now ebbed off of an earlier high at $1.2169.

GBP/USD last deals at $1.2157, 5 pips better off.

- The rate retained its bearish feel yesterday, extending recent losses in the

Asia-Pacific session. Renewed selling pressure was observed on the break of

$1.2200, with the slide continuing through the session. As a result, cable

bottomed out at $1.2119, the worst level since Mar 2017. London & NY sessions

saw some sluggish recovery attempts, but the $1.2200 mark remained out of reach.

- UK PM Johnson maintains his hawkish Brexit stance, refusing to meet other EU

leaders unless they agree to re-negotiate the Brexit accord. He stressed if

Brussels does not compromise, "we have to get ready for a no-deal exit."

- Bears look to yesterday's low of $1.2119, bulls look to recover $1.2200.

- The BoE will deliver its monetary policy decision on Thursday, which will be

accompanied by the Bank's Inflation Report. The MPC is widely expected to stand

pat on policy, as the outlook is clouded by Brexit matters, which will likely

continue to draw most attention.