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Free AccessCable last trades at $1.2823, sticking to a...>
CABLE: Cable last trades at $1.2823, sticking to a tight range in early Asia-Pac
dealing after yesterday's ~60 pip fall.
- The pair slipped lower yesterday afternoon on the back of another bout of USD
strength, printing session lows, sub-$1.2800, on the back of a late BBG headline
noting that Brexit talks on hold with UK PM May's team in disagreement.
- Bears seek a break below the 61.8% retracement from 2016 lows at $1.2810
before targeting the 2018 lows at $1.2662. Bulls need to break the downtrend
channel top at $1.2980 to regain momentum.
- Highlights today include UK sovereign debt ratings by S&P and Fitch. Focus
next week falls on BoE MonPol decision accompanied by the quarterly inflation
report, followed by BoE Gov. Carney's press conference on Thursday.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.