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CABLE
MNI (London)
CABLE: Cable knocked to fresh intraday low of $1.2922 as market reacts to
release of UK Borrowing data. Borrowing exceeded expectations in the month of
September, despite a Stg500m decline in interest payments linked to decreased
outlays on
index-linked government debt. Corporation tax displayed concerning signs of
decline, falling by Stg300m in the fiscal year. The dip again appears to be
attracting demand as downside momentum falters, though recovery efforts so far
remain shallow. Expect support into $1.2900. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com