Cable has shed 25 pips so far and last sits...>

CABLE: Cable has shed 25 pips so far and last sits at $1.2867 after nearing the

$1.3000 mark yesterday on a momentary outburst of enthusiasm re: Brexit talks.

- The pair dipped in yesterday's London morning as the DUP said they cannot

support the current suggestions on customs & consent issues. Soon thereafter,

suggestions from press reporters & a later official confirmation that the UK and

EU have agreed on the draft of a new Brexit deal sent the pair soaring.

- Gains were erased as the DUP reiterated they won't back the deal, before the

rate advanced towards $1.2900 into the close. PM Johnson needs to convince

enough MPs at Saturday's emergency sitting in the Commons. Parliamentary

arithmetic makes this task very hard, which may be weighing on GBP at present.

- There has been speculation re: potential for another Brexit delay. The press

has suggested that PM Johnson asked EU leaders to rule out an extension to help

him gain leverage in the at home. Per the Times, his request met with refusal &

the EU is "on standby to hold an emergency summit in ten days' time" if needed.

- Nearby support at Oct 15 high of $1.2800; resistance at $1.2990 Thurs' peak.

- BoE Governor Carney & Deputy Governor Cunliffe will speak in Washington today.