Cable has given away 18 pips and last deals...>

CABLE: Cable has given away 18 pips and last deals at $1.2272, extending its

pullback from yesterday's highs. GBP is the worst G10 performer at writing.

- The rate surged on Tuesday, as London traders returned from their long-weekend

holidays, turning their focus to the UK gov't's perception that French Pres

Macron & German Cll'r Merkel softened their Brexit stances, as outlined by a BBG

source report. Meanwhile, 160 opposition lawmakers signed off on a joint

declaration to try and block a no-deal Brexit.

- In an article for the Telegraph, UK Cll'r Javid revealed that he is set to

announce a boost in spending on schools, the police & NHS, but pledged to stick

to the Tories' fiscal rules in the run-up to Brexit. Mr Javid was expected to

deliver his speech on a spending review later today, but it has been postponed

until next Wednesday.

- Bears set their sights on $1.2210/09/08, that is the Aug 6 high/yesterday's

low/Monday's low. A break here would bring into view the $1.2200 barrier.

Conversely, bulls look to retake yesterday's peak at $1.2310 before attempting a

move at the upper 1.0% 10-DMA envelope at $1.2318.