GBP has been the underperformer among the.....>

CABLE: GBP has been the underperformer among the majors in early dealing this

week, on the back of the latest developments re: Brexit.

- Elsewhere the Guardian reported on Saturday that "Theresa May has been told

that the DUP leader, Arlene Foster, is now "ready" to trigger a no-deal Brexit

and regards this as the "likeliest outcome" following a "hostile and difficult"

exchange with the EU's chief negotiator, an explosive set of leaked government

emails reveal." This comes as May continues to come under pressure from within

her own Tory Party, with rumblings of additional no confidence letters being

sent by various MPs.

- Cable last deals at $1.3105, 50 pips lower on the day, after opening at

~$1.3088. The 100-DMA ($1.3100) is in play at present, with a convincing break

below opening up the October 09 low ($1.3033). Bulls need to recover the October

10 low ($1.3135) before setting their sights higher.

- Focus throughout the week will fall on Brexit developments, with a smattering

of domestic data in the form of the labour market report, CPI & retail sales

also apparent. Elsewhere BoE's Cunliffe & Broadbent are due to speak.