Cable last trades at $1.3174, a touch lower...>

CABLE: Cable last trades at $1.3174, a touch lower on the day, after dropping 22

pips yesterday. Monday's Asia-Pac session saw GBP buoyed by weekend press

reports suggesting that eurosceptic Tory MPs & AG Cox softened their stances re:

PM May's trade deal. However, sterling then came under pressure from a soft UK

construction PMI, which slid into contractionary territory, printing at 49.5 vs.

exp. 50.5.

- Worth mentioning AG Cox is set to travel to Brussels later today to negotiate

amending the Irish backstop clause in the current divorce agreement. The outcome

of his attempts may be crucial in shaping the Brexit timeline.

- Elsewhere, PM May's spokesman said that the chance of a meaningful vote in

parliament this week is "negligible."

- Bearish attention is drawn to yesterday's low of $1.3167, followed by the Feb

20 high of $1.3109. Meanwhile, bulls keep an eye on the 100-WMA at $1.3210.

- UK focus turns to domestic services/composite PMI data, as well as remarks

from BoE Gov Carney due later today. Elsewhere, BoE's Cunliffe & Saunders will

speak Weds, while Tenreyro will speak Thurs.