Cable trades flat at $1.2468 after falling....>

CABLE: Cable trades flat at $1.2468 after falling 28 pips yesterday. Resistance

noted at Tuesday's high of $1.2527, nearest support at the $1.2400 barrier.

- To recap, pre-FOMC risk aversion applied some weight in yesterday's Asia

trade, before the pair accelerated decline as EU's Juncker called the risk of

no-deal Brexit "palpable." The next leg lower followed promptly, as UK CPI

missed exp., with the Y/Y number falling below the BoE target range. Cable moved

away from lows before dropping again as fractures among FOMC members re: the

need for more easing bolstered USD. Late doors recovery was quickly retraced.

- DUP leader Arlene Foster said that her party can show some flexibility in

trying to break the Brexit impasse and consider NI-specific solutions.

- Across the Channel, Finnish PM Rinne & French Pres Macron agreed that the UK

must offer a proposal by the month-end, if it wants to avoid a no-deal divorce.

German Cll'r Merkel reiterated hope for an orderly Brexit, while EU lawmakers

backed a resolution calling for an Art. 50 extension, should London request one.

- Today's UK docket features retail sales data, while BoE MPC will deliver their

latest monetary policy decision.