Continues to ease away from its NY............>

CABLE: Continues to ease away from its NY afternoon high of $1.3918, retesting

the NY hourly base at $1.3880 in early Europe, currently around $1.3888. Focus

today on Chancellor Hammond delivering the Spring Budget Statement, though most

of the content suggested to have been seen in the weekend press. Lower borrowing

going forward with the OBR noting a slightly better economic outlook. Statement

in Parliament at same time as release of US CPI, the latter to have much more

market effect (market median 0.2%mm, 2.2%yy; core 0.2%mm, 1.8%yy). Interesting

note from Deutsche Bank that the Usd does not have a good track record on CPI

release days. Resistance remains at the US high of $1.3918, stronger at and

above $1.3930. Support $1.3880, $1.3840.