Cable holds around closing levels, last.......>

CABLE: Cable holds around closing levels, last $1.2882, after settling 24 pips

higher Wednesday, as UK PM May survived the no-confidence vote tabled by the

Labour Party in the aftermath of May's defeat in Tuesday's meaningful vote.

Elsewhere, cable fluctuated within a ~70 pip range, supported by headlines

suggesting art. 50 might be delayed/revoked or that EU leaders are ready for

further concessions, and pressured by subsequent denials. Worth mentioning May

proceeded to cross-party talks on the Brexit deal, but Labour Party's Corbyn

refused to attend until the prospect of "no deal" is formally removed. 

- UK CPI slowed in December, in line with expectations, while core CPI came at

1.9% against the 1.8% forecast (ee MNI Main Wire at 09:30 GMT 01/16 for our data

analysis piece "UK Dec CPI Down on Falling Fuel Prices). 

- Bulls eye the 100-DMA at $1.2890 before challenging the psychological $1.2900

level, while bears look for a breach of Wednesday's low at $1.2825, which would

shift their focus to the 55-DMA at $1.2776. 

- UK econ data this week includes retail sales due to hit on Friday, although

Brexit matters are set to continue to dominate.