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Extended the sharp pullback from $1.3521,.....>

CABLE
MNI (London)
CABLE: Extended the sharp pullback from $1.3521, seen as Brexit deal
announced(allows talks to move on to the next stage of Brexit involving trade)
to $1.3456 as spec longs were squeezed out in a 'buy the rumour, sell fact' type
move. The Usd had provided a counter in cable late Thursday as market reacted to
reports suggesting Trump Administration readying an infrastructure plan for
release by Jan30. This Usd boost has rolled over into Asia and Europe with
Eur/Usd also seen under pressure. Eur/Gbp trades around Gbp0.8720, holding most
of its overnight losses. Cable currently trades around $1.3472 at posting.
Analysts will now be pouring over the terms of this initial deal so expect some
comments to emerge. 
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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