Closed last week on its lows of $1.2102 as....>

CABLE: Closed last week on its lows of $1.2102 as the pound was pressed lower on

Brexit transition comments showing a divergence of views between the UK and the

EU. Sterling came under pressure in opening Asian trade as market reacted to

weekend comments from BOE Chief Economist Haldane told the Sunday Telegraph that

the Bank was considering a range of further easing options, including negative

interest rates. Cable dropped in early trade to $1.2076 before demand risk

related demand emerged. The pound was also given a lift on reports in The Times

that the EU is ready to back down on its hard line on fishing rights(a major

stumbling block) in the Brexit negotiations. Cable edged to $1.2115 though

momentum was uninspiring and quickly faded. Rate eased back around the figure

into Europe.

- Light data calendar in the UK Monday. BOE Tenreyro speaks at 1500GMT.

- This week in the UK,  Tuesday Employment Report, Wednesday CPI; BOE Bailey,

Broadbent, Cunliffe at TSC, Thursday flash PMI's, Friday Retail Sales and PSNB. 

- Support $1.2090, $1.2076, $1.2050. Resistance $1.2115/25, $1.2150.