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- Cable eked out some gains in the second.....>

MNI (London)
CABLE: - Cable eked out some gains in the second half of yesterday's Asia-Pac
session before wiping them out as London traders came in. Weekend news flow did
little to improve outlook, as it highlighted the threat to the UK economy from a
disruptive Brexit. However, $1.2100 remained intact and cable bounced from lows
thereafter, recovering to $1.2158 before a stronger USD dragged it back to
$1.2125 into the close.
- Support seen at $1.2105/00 (Aug19 low/200-hma); resistance $1.2158,
$1.2170/75, 21-DMA at $1.2186.
- UK PM Johnson wrote a letter to EU Council Pres Tusk, reiterating that the
Irish backstop needs to be scrapped and could be replaced by a legally binding
commitment not to set up infrastructure or carry out checks at the Irish border,
provided that Brussels makes the same pledge. The Guardian's EU sources once
again ruled out reopening negotiations on the current withdrawal agreement.
- The White House said that U.S. Pres Trump spoke with UK PM Johnson ahead of
their upcoming meeting at the G7 summit. Elsewhere, the Sun reported that
Johnson told trade ministers to leave NHS out of trade talks with the U.S.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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