Cable recovered off Monday's low of $1.2831...>

CABLE: Cable recovered off Monday's low of $1.2831 to $1.2911 as PM May outlined

her plan B to lawmakers, which saw little changes from plan A but struck a

positive note re: negotiations with EU leaders in the coming weeks., before it

settled around $1.2890 into the close. Early Asia saw press reports Labour Party

leader Corbyn backing a Commons vote that could result in a second Brexit

referendum. Elsewhere, up to 40 gov't ministers are said to have threatened

their resignations if they are forbidden to support a backbench amendment

formally blocking a no-deal Brexit. Early Asia took cable to a high of $1.2900

before it drifted lower through the session. Risk was bruised on reports that

the US had informed Canada of plans to extradite the Huawei CFO, which added to

the corrective pullback weight. Rate found support ahead of $1.2870 ahead of

Europe but fresh sales into Europe has pressed rate down to $1.2860 with risk

aversion remaining to the fore. Next support seen around $1.2850 ahead of

$1.2830. 

- UK labour mkt data comes out Tuesday, but Brexit matters remain the key

driver.