Cable registered a session high at $1.3236....>

CABLE: Cable registered a session high at $1.3236 Tuesday, before closing at

~$1.3180, as negative Brexit related comments had a limited impact, with the

market exhibiting signs of fatigue around the matter.

- Cable's initial leg higher on Tuesday came on the back of reports suggesting

that the cabinet told PM May to drop her Chequers plan or she will face a no

confidence vote within days. The rate then received an additional boost from the

release of UK labour market numbers, as wage growth beat expectations.

- Rate has softened a touch at the EU crossover, dealing at session lows of

$1.3165 last. Bulls need a close above $1.3200 before they can target the Sep

high at $1.3298. Bears keep an eye on the 50-DMA at $1.2990, with a break

opening a move to the $1.2933 Oct low.

- Focus today falls on the integral EU Brexit summit & UK CPI release. Reports

Tuesday suggested that a Brexit deal may be struck as late as December, while

the FT wrote that "Michel Barnier has said he is open to the possibility of a

1-year extension to Britain's Brexit transition in return for PM May accepting a

"2-tier" backstop to avoid a border in N. Ireland, according to EU diplomats."