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CABLE: Cable finished 16 pips worse off yesterday, even as it threatened a
breach of $1.2100 at one point. The rate slid into the London morning, plumbing
an intraday low of $1.2042 before staging a recovery. UK jobs numbers didn't
provoke much reaction, as any impact of better than exp, earnings figures was
negated by an uptick in unemployment. Better than exp. U.S. core CPI triggered a
modest knee-jerk lower, promptly followed by an upswing to intraday high of
$1.2098. Yet, cable then gave away earlier gains through the rest of the day.
- The rate last trades flat at $1.2060. Bulls look to jump onto the $1.2100
handle, while bears keep an eye on Monday's cycle low of $1.2015.
- A senior U.S. official told RTRS that the U.S. and UK are discussing a trade
deal, which could take effect on Nov 1. This came after White House Security
Advisor Bolton said that the UK would be "front of the trade queue" post-Brexit.
- Commons Speaker Bercow pledged to oppose attempts to prorogue parliament
""with every bone in my body." Elsewhere, Labour Dep Leader Watson called for
anti-Brexit cooperation with Lib Dems.
- UK inflation data will be published later today, retail sales hit on Thursday.