Cable has added 13 pips thus far, and last....>

CABLE: Cable has added 13 pips thus far, and last trades at $1.3269, following

reports by the Sun that UK PM May will request a delay to Brexit by 9 to 12

months. Elsewhere, the Guardian has reported that during Thursday's summit, the

EU will propose a 3 or 9 month extension to Article 50.

- Cable slid 35 pips yesterday, with GBP underperforming its G10 peers, as

Commons Speaker Bercow ruled out the tabling of any fresh meaningful vote

without material changes to the underlying legislation. The rate dipped below

the $1.32 mark, before recovering somewhat. As a reminder, a third meaningful

vote was previously scheduled for Tuesday, while weekend saw cabinet ministers

hint that it might not happen this week without broader legislative support.

- After the psychological $1.3300 level capped gains both yesterday and on

Friday, the initial bullish attention remains drawn to the figure. Meanwhile,

bears look to the 100-HMA at $1.3244, which has limited losses today.

- UK focus this week falls on the BoE MonPol decision due Thursday. On the data

front, UK labour mkt report comes out later today, CPI is due Wednesday and

retail sales hit on Thursday.