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Cable trades well as market narrows in on.....>

FOREX
FOREX: Cable trades well as market narrows in on Conservative victory
-With betting odds edging back above 70% for a Conservative majority on Dec12's
election, GBP firmed further early Wednesday, cracking above $1.30 and holding
the handle for the first time since May - hitting a seven month high in the
process. Similar GBP strength has been noted in EUR/GBP, which has narrowed the
gap with 0.8473, the two year low in the cross.
-Elsewhere, markets clearly remain sensitive to China trade headlines, with
today's Bloomberg missive ('US and China move closer to a trade deal despite
heated rhetoric') helping boost CNH and equity futures in the US. The headline
also helped USD/JPY recover off the overnight lows of Y108.43, but yesterday's
highs still remain comfortably in tact.
-Today sees the release of ADP Employment Change data, the final reading of US
November PMIs, the ISM non-manufacturing data and the Bank of Canada rate
decision. The BoC are seen keeping policy unchanged. Attention remains on this
week's NATO summit, with US President Trump due to be holding another press
conference at 1500GMT/1000ET.

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