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Cable trades around 10 pips higher at.........>

CABLE: Cable trades around 10 pips higher at $1.3145. It has been another heavy
Brexit headline weekend. Brexit Minister Raab noted that "Britain will refuse to
pay its GBP39bn divorce bill to Brussels if the European Union fails to agree a
trade deal." Elsewhere, the Guardian reported that "the UK will not be saved
from crashing out of the EU via an extension of the article 50 negotiations
unless there is a major realignment in British politics, most likely through a
second referendum or general election, senior diplomats and European commission
officials have disclosed."
- The FT also reported that Brussels has rejected the UK's proposals on how to
govern the City of London's access to the European market after Brexit, saying
Theresa May's latest financial services plan would rob the EU of its
"decision-making autonomy".
- Cable has breached the 50% retracement of the move from $1.3293 to $1.2958
($1.3126), with the hourly high from July 17 observed at ($1.3150), followed by
the 50% retracement of the move from $1.3363 to $1.2958 ($1.3161)
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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