Cable neared the $1.2300 mark in..............>

CABLE: Cable neared the $1.2300 mark in yesterday's London trade before moving

away from lows and easing off again. Wednesday's chaotic debate in the Commons

did little to aid the sterling, but nonetheless a recovery attempt was seen into

the London noon amid a modest USD softening. Renewed selling pressure emerged,

however, as BBG reported that the EU sees Brexit negotiations as "stalled and

going backward" and doesn't expect a deal by the cliff-edge date of Oct 31.

- ITV political editor Peston cited an SNP source as claiming that the party's

leadership "has come round to the idea that Jeremy Corbyn may shortly have to

become temporary caretaker prime minister" to prevent a no-deal Brexit.

- Unnamed cabinet ministers told the Sun that they are set to challenge PM

Johnson to abandon his hard-line Brexit strategy and accept a last minute

compromise offer expected from EU leaders in the run-up to the Brexit deadline.

- GBP/USD last seen at $1.2327, virtually unchanged. Bears need a breach of the

$1.2300 barrier before targeting the 50-DMA at $1.2266. Topside attention is

drawn to $1.2385, where the rate peaked on Sep 9.