Cable was offered in the lead-up to...........>

CABLE: Cable was offered in the lead-up to yesterday's monetary policy decision

from the BoE. The UK's central bank ramped up its QE programme by GBP100bn, in

line with expectations, but markedly slowed the pace of asset purchases. Cable

pushed higher in the initial reaction, before focus turned to a presser with BoE

Gov Bailey, who downplayed the significance of slower bond buying. Cable turned

its tail and slid into the WMR fix, taking out its 100-DMA & 50-DMA in the

process. Sterling finished the day as the worst G10 performer.

- UK PM Johnson met with French Pres Macron yesterday, reportedly reiterating

his willingness to accelerate trade talks with the EU. Elsewhere, the bloc's

ambassador to the UK said that the EU would impose full customs controls on

imports from the UK after Brexit, despite the United Kingdom's earlier decision

to delay an analogical move re: goods from the EU.

- GBP/USD last trades at $1.2413, a touch lower on the day. Further losses past

the 61.8% retracement of the May 18 - Jun 10 rally at $1.2358 would open Jun 1

low of $1.2322. Bulls look to clear Jun 16 high/200-DMA at $1.2688/93.

- Retail sales headline the UK docket today.