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Free AccessCable has shed 12 pips thus far and last......>
CABLE: Cable has shed 12 pips thus far and last deals at $1.2933 after UK PM May
replied to Labour leader Corbyn's earlier offer of a cross-party compromise on
the Brexit deal. Although the PM agreed that more cross-party talks are needed,
she ruled out key Labour demands and stressed that she remains opposed to the UK
staying in any customs union with the EU.
- This comes after cable dropped 8 pips Friday.
- As a reminder, on Feb 13 PM May is to update the lawmakers on her progress in
drafting a revised Brexit deal, ahead of a Brexit debate in the House of
Commons, scheduled for Feb 14.
- Bears keep an eye on $1.2921, where the rate bottomed Friday, ahead of the
100-DMA at $1.2888. Meanwhile, initial resistance is located at Friday's high of
$1.2976 and a break above would draw bullish attention to the 21-DMA at $1.2996.
- UK focus this week falls on domestic GDP, as well as trade balance &
production figures, due later today, CPI due Wednesday & retail sales due
Friday. Elsewhere, BoE Gov Carney will speak Tuesday, while Vlieghe will speak
Thursday.
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.