Cable last sits at $1.2730, almost............>

CABLE: Cable last sits at $1.2730, almost unchanged on the day thus far, after

slipping 24 pips Monday. 

- The rate climbed to intraday peak at $1.2825 building on improved risk

appetite, but eased off in early London trade, slumping to intraday lows just a

pip shy of the psychological $1.2700 level amidst broader unrest re: Brexit. 

- No. 10's refusal to publish Attorney General's legal advice on the "backstop"

clauses in PM May's Brexit deal is growing increasingly contentious, with an

emergency debate on the matter now scheduled. 

- Traders looked through a stronger than exp. UK m'fing PMI Monday, with

evidence of stockpiling apparent. 

- Bears look to a move through yesterday's lows before shifting focus to the

lower Bollinger band (2%) at $1.2672. On the topside, bulls need to retake

yesterday's high before targeting the Nov 29 high at $1.2850. 

- UK highlights this week include services & composite PMIs due Weds. Elsewhere,

BoE Gov Carney, Cunliffe & Broadbent, as well as BoE's Vlieghe are due to speak

later today, while BoE's Ramsden and Broadbent are due to speak Thurs.