Early Europe cable seller emerged into the....>

CABLE: Early Europe cable seller emerged into the early cable lift to $1.3158,

the rate then dropping back through its Asian low of $1.3139 to $1.3122 at

writing. Similar scenario for sterling in Eur/Gbp as rate dipped initially to

Gbp0.8853 then bounced back to Gbp0.88675 (Asia range Gbp0.8858-64). Sterling

negatives continue to outweigh positives but dips continue to be bought into,

strong support noted at Thursday's low of $1.3085. In a morning note Citi says

beta to politics is growing as are those same risks, adding that they have

advocated not chasing Gbp weakness and continue to do so. Brexit concerns

continue to bubble away under the surface, but investors watch BOE for any

signals on rate path.