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EUR/USD month-end sales Friday weighed on.....>

CABLE
MNI (London)
CABLE: EUR/USD month-end sales Friday weighed on cable, taking rate down to
$1.2139, though part of this pressure was diverted by slippage in EUR/GBP. Cable
managed to recover to $1.2164 into the close. Rate came under fresh pressure in
opening Asian trade as market reacted to weekend comments. Alain Carrier,
European boss of Canada Pension Plan Investment Board, said he was "very
cautious" about investing in the UK, warned Britain risks losing its reputation
as a safe haven for investment. PM Johnson issued an ultimatum to rebel Tory MPs
that they will be expelled if they try to stop no-deal Brexit. Cable was pressed
back to Friday's low, touching $1.2138 before recovering to hold around $1.2160
into Europe.
- UK Markit Mfg PMI released at 0830GMT. Market median is for 48.8 vs July 48.0,
the expected improvement reflecting a fading of negative effects of stock piling
seen in recent releases. Key Services PMI data due Wednesday. 
- UK Parliament returns from its Summer recess Tuesday bringing to the fore the
no-deal Brexit debate.
- BOE MPC Tenreyro speaks Thursday. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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