Cable last sits at $1.2741 after slipping.....>

CABLE: Cable last sits at $1.2741 after slipping more than 80 pips Tuesday as

sterling suffered from the Brexit chaos. 

- The pair tumbled to tanked ~85 pips in late Tokyo/early London trade as

markets absorbed headlines re: Brexit from overnight with U.S. Pres Trump

suggesting that PM May's Brexit deal can make future trade deal with the US

difficult & the Times' report saying that Tory Brexiters may back the withdrawal

agreement if May lays out a date for stepping down. 

- Today, BBG sources reported that May gave up attempts to prevent lawmakers

from altering the terms of her agreement with the EU before the final vote.

- Yesterday's lows of $1.2725 provide initial support, while a break below would

give bears a green light for targeting the psychological $1.2700 level. On the

upside, initial resistance is located at $1.2830, where the rate peaked

yesterday, and a break above would open up the Nov 26 high at $1.2864. 

- UK focus today turns to Downing 10's & BOE's economic analyses re: Brexit.

Elsewhere, BoE Gov Carney will speak after the release of the central bank's

Financial Stability Report.