Cable was contained within a range of.........>

CABLE: Cable was contained within a range of $1.2812-34 through Asia with Europe

so far respecting those parameters (early demand failed to dent the overnight

top). Focus remains on Brexit developments. EU expected to deliver an Article 50

extension eith today or tomorrow, though reports suggest that France has moved

into line to allow. Most expect the EU to allow for an extension to Jan31 2020,

possibly with an early exit clause(flextension). PM Johnson will push again for

a snap General Election for Dec12, expected to lose. The DLP and SNP have said

they would support a date of Dec9 if a 3-month extension is given, but their 54

seats not enough to get the 2/3 majority needed to allow for an election. 

- Asian traders have noted support into $1.2800 ahead of Oct24 low of $1.2789.

Resistance $1.2850/60. 

- Large option expiries noted for Nov1 $1.2700(Gbp2.15bln), $1.2900(Gbp2.65bln)