GBP/USD lost altitude yesterday as domestic...>

CABLE: GBP/USD lost altitude yesterday as domestic focus turned to Brexit matter

& domestic politics, playing out against the backdrop of a wider defensive feel

caused by Sino-U.S. tensions. UK chief Brexit negotiator told MPs that the

finalisation of a fisheries agreement with the EU before the July deadline is

unlikely, with bilateral negotiations set to resume next week. Meanwhile, there

has been an increasing pressure on PM Johnson to fire his chief advisor Dominic

Cummings over the latter's breach of lockdown restrictions, with some 60 Tory

MPs continuing to challenge the PM over his call to "move on".

- BoE Gov Bailey wrote in the Guardian that it is "right that we consider what

further options, such as cutting interest rates into unprecedented territory,

might be available in the future".

- GBP/USD trades at $1.2264, little changed on the day. A fall through May 22

low of $1.2162 would expose May 18 low of $1.2076. Bulls need a break above May

26 high of $1.2363 to get some impetus.

- BoE's Saunders will make an appearance later today.