Cable last seen at $1.2363, 10 pips higher....>

CABLE: Cable last seen at $1.2363, 10 pips higher on the day, after tumbling

Wednesday amid escalating political uncertainty. Initial resistance noted at

$1.2463 100-DMA; support at the Sep 13 low of $1.2327.

- UK parliament resumed business yesterday. PM Johnson challenged the opposition

to trigger a snap election via a no-confidence vote or let his gov't deliver

Brexit amid repeated calls for his resignation. The Labour Party declines to

table a motion of no confidence until the risk of a no-deal Brexit is averted.

- Whereas PM Johnson insisted that Brexit talks are going well, a BBG source

said that the EU Commission views the latest package of UK proposals on how to

replace the Irish backstop as unsatisfactory.

- Political instability and the perception that the UK is on course to crash out

of the EU without a deal inspired a sharp sell-off in GBP/USD yesterday.

Broad-based USD strength exacerbated the move, amid relatively hawkish comments

from Fed's Evans, better than exp. U.S. new home sales and the impeachment saga.

- BoE Dep Gov Cunliffe will speak in a panel discussion on "the future of

financial services" later today. Fellow MPC member Saunders speaks on Friday.