GBP/USD has inched higher this morning. The...>

CABLE: GBP/USD has inched higher this morning. The rate may have initially drawn

some support from the 50-DMA's move above the 100-DMA, but has already ticked

off an earlier high at $1.2651. Cable now sits +7 pips at $1.2628.

- The Telegraph reported that UK Cll'r Sunak is planning wide ranging cuts to

taxes and red tape next year, in a bid to boost the economy after Brexit and

help it recover from the coronavirus crisis.

- The Brexit situation remains closely watched. A survey by the Institute of

Directors revealed that only a quarter of businesses are ready for the end of

Brexit transition. Elsewhere, the FT reported that the UK might withhold the

power to control state aid from Scotland & Wales after the Brexit transition.

- Above Jul 9 high of $1.2670 would open up the 200-DMA, intersecting at

$1.2701. Below Jul 8 low of $1.2509 would turn focus to Jul 3 low of $1.2438.

- UK reports monthly economic activity data on Tuesday, inflation figures come

out on Wednesday, while labour market report hits the wires on Thursday.

Elsewhere, BoE Gov Bailey will speak today, on Thursday and Friday, while BoE's

Tenreyro will appear on Wednesday.