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Free AccessCable found a base just ahead of $1.2650......>
CABLE: Cable found a base just ahead of $1.2650 during Tuesday trade, with early
Asia retesting the $1.2651 low before it picked up some mild demand into Europe
which has lifted it to $1.2665. Markets on watch to see who will emerge as the
front runners in the Conservative leadership race(winner to take over the PM's
job), as well as watching the European parliament to see who gets the top jobs.
Press reports suggest that Labour leader Corbyn will come out to say a second
referendum will be Labour policy, which could provide sterling with some
support. If the current UK parliament Brexit impasse continues under a new PM it
could open the chance of a general election. Labour hopes to replace the current
Conservatives, though may have to look toward the LibDems(remain) for support.
- Cable support $1.2651/48, $1.2641 ahead of $1.2610/00. Resistance $1.2700/20.
- A light UK calendar for Wednesday.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.