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CHINA PBOC CONDUCTS CNY676 BILLION VIA 7-DAY REVERSE REPOS TUE

CHINA SETS YUAN CENTRAL PARITY AT 7.1328 TUE VS 7.1313

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Cable has edged lower and last trades at......>

CABLE
CABLE: Cable has edged lower and last trades at $1.2932 after advancing 21 pips
Monday. Yesterday, the rate rose initially through the Asia-Pac & early European
hours, but stopped short of $1.2950 before faltering to its intraday low of
$1.2905. Cable then posted a leg higher into the London fix and gained some
traction thereafter, which allowed it to close better off.
- Initial support noted at the 100-HMA at $1.2918, ahead of the aforementioned
yesterday's low. Bulls look to the 200-DMA/100-DMA at $1.2959/72 and a break
above here would reignite the upside momentum.
- Cross-party Brexit talks resumed yesterday, while internal fractures within
the Tory & Labour parties remain. The Sun reported that PM May will face an
emergency grassroots vote to remove her as the Tory leader.
- UK focus turns to the BoE MonPol decision & the accompanying presser with BOE
Gov Carney due Thursday, with construction & services PMI readings due on
Thursday & Friday respectively. The local elections are also on Thursday with
further damage expected for the Conservative Party after the Brexit delays.
Elsewhere, BoE Dep Gov Ramsden will speak later today.
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