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(U1) Correction Still In Play


Powell & Williams Stick To Script


(U1) Support Remains Intact


(U1) Clears Support


Equity Markets Gain


BoK To Reduce 2-Year MSB Issuance

CABLE: Corrective pullback away from last Thursday's(Feb7) high of $1.2996(seen
after BOE Carney was seen leaving the door open to a rate hike despite possible
no-deal Brexit turmoil) saw a low of $1.2921 before it recovered to $1.2976 in
early NY. General USD strength saw rate track EUR/USD slippage, eased to $1.2927
during the NY afternoon before it settled back above $1.2930 into the close.
Bloomberg charts show an early Asia high of $1.2950 before rate settled between
$1.2927-39 through the main part of a fairly subdued Asian session(Japan closed
for Foundation Day), opening Europe around $1.2934. UK PM May replied to Labour
leader Corbyn's offer of a cross-party compromise on the Brexit deal. Although
the PM agreed that more cross-party talks are needed, she ruled out key Labour
demands and stressed that she remains opposed to the UK staying in any customs
union with the EU. May has shown a willingness to offer fresh concessions on
workers' rights to woo Labour. 
- UK data focus on domestic GDP, as well as trade balance & production figures
at 0930GMT. CPI Wednesday & Retail Sales Friday. 
- BoE Gov Carney speaks Tuesday; MPC Vlieghe speaks Thursday.
MNI London Bureau | +44 203-586-2231 |