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Despite hawkish remarks from BoE Gov Carney...>

CABLE: Despite hawkish remarks from BoE Gov Carney re: temporary Q1 UK econ
slowdown, Brexit headlines continue to dictate ahead of Friday's UK cabinet
summit. Reports noting that Germany sees PM May's Brexit workaround plan as
'unworkable' wiped out cable's Thursday morning gains with a reversal from
$1.3275 to $1.3205.
- A story in the Independent noted that Theresa May's new plan for future
relations with the EU will be "dead on arrival", senior figures in Brussels have
told The Independent. EU officials said any hint that the UK wants to be part of
the single market on goods, but not services will be rejected. It is a blow for
the prime minister who has spent the last week in meetings with EU leaders,
including Angela Merkel, in a bid to prevent Europe dismissing her plans out of
hand when they are published next week. 
- Elsewhere, reports have suggested that PM May has won over trade minister Fox.
- GBP/USD last trades at ~$1.3220, resistance is noted at $1.3288 (1.618% swing
of the move from $1.3214 to $1.3095), with hourly support is seen at
$1.3190/$1.3200. UK labour costs headline the UK calendar on Friday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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