Following release of EZ Mfg PMI data..........>

CABLE: Following release of EZ Mfg PMI data attention switches to UK CIPs mfg

PMI (MNI consensus 47.7, Bbg 47.6 vs last 48.0) on the half hour. Cable saw a

low of $1.2101 earlier in Asian trade, the move lower seen as rate tracked the

deeper slippage in EUR/USD, before it recovered to $1.2137. However, with

recovery efforts seen lacking any meaningful momentum it keeps the downside in

focus, especially with the upcoming BOE MPC announcement at 1100GMT, where the

Bank is expected to shift view to neutral/dovish due to Brexit uncertainties,

from its recent view that the next move would be up. A break of $1.2100 to

expose the base of the 2.0% 10-dma envelope at $1.2091 ahead of $1.2070 and

stronger interest into $1.2050. Resistance seen at $1.2137 ahead of $1.2150/60.

EUR/GBP currently holding below Gbp0.9120 and back within its 1.0% 10-dma

envelope.