Closed last week at $1.3064 with sterling.....>

CABLE: Closed last week at $1.3064 with sterling on the back foot into the

weekend following dovish comments from BOE Carney and Tenreyro. This dovish tone

was added to by MPC member Vlieghe after he told the FT(comments published

Sunday) that he is set to back an interest-rate cut at the upcoming meeting (Jan

30), should he see no signs that the economy is picking up after the general

election. He noted that this month's data may "swing [his call] one way or the

other." Cable was marked down to $1.3020 in opening trade though react dip was

met by willing buyers (possibly taking profit on the expected move) that took it

back to $1.3045. Rate settled between $1.3030/40 before it came under fresh

downside pressure into Europe. Rate pressured to an extended low of $1.3016

though so far holds off a retest of Thursday's low of $1.3013. Break here to

expose stronger support into $1.3000, a break to expose $1.2980/70 ahead of

$1.2950. Resistance $1.3045/50. 

- Recent BOE MPC comments put more focus on UK data. For today UK IP/MFG, Trade,

Construction Output, GDP and Index of Services due at 0930GMT.