Cable is benefitting from the broader,........>

CABLE: Cable is benefitting from the broader, albeit modest, USD weakness,

stemming from the weekend news flow, last dealing ~15 pips or so higher around

session highs of $1.2660.

- Brexit matters remain front and centre. The FT has reported that "Theresa May

has cut short her cabinet ministers' Christmas break, summoning them to a

meeting to discuss a no-deal Brexit on January 2." While the Times suggested

that "Theresa May's allies are plotting to keep her in Downing Street for at

least another two years amid growing confidence that she will get her Brexit

deal through parliament." Elsewhere the Observer noted that "Jeremy Corbyn is

facing a storm of criticism from Labour activists and MPs after suggesting he

would press ahead with Brexit if the party won a snap general election."

- Support levels clustered from $1.2632 to $1.2593, representing a string of

recent intraday lows, while initial resistance is noted at Friday's intraday

high of $1.2698.

- As mentioned, the rate remains Brexit-centric, especially with a virtually

empty UK docket in the upcoming week.