Cable extended its recovery away from.........>

CABLE: Cable extended its recovery away from Wednesday's low of $1.2382, aided

in part by release of stronger than forecast UK Retail Sales data, and voting to

make it harder for any new PM to prorogue Parliament to force a no-deal Brexit

(though this remains possible), to $1.2495 in early NY. Resistance was noted on

approach to $1.2500 but this level gave way as market reacted to perceived

dovish comments from Fed Williams. Rate spiked to $1.2558, the move up

accelerated through $1.2520, before it settled between $1.255-50 into the close.

Rate dropped back to $1.2522 as NY Fed announced that Fed Williams comments were

academic and not intended to suggest a large rate cut at the FOMC later this

month. This corrective pullback was countered by comments from Fed Clarida and

allowed a recovery to $1.2555. Rate drifted off, touched $1.2527 into Europe. 

- Comments Thursday from new EU head von der Leyen were seen offering a slight

softer negotiating stance toward the UK, which along with events in the UK

Parliament, which should make a Brexit no-deal more difficult to achieve, seen

helping to keep sterling buoyed. However, cable seen needing a break of $1.2582

to boost upside prospects.