GBP/USD posted an uptick as the Times.........>

CABLE: GBP/USD posted an uptick as the Times reported that Boris Johnson wants

to hold a snap general election "while Jeremy Corbyn is still around." The move

has faded since and cable deals at $1.2410, barely changed on the day.

- The rate continues to hover just above the worst levels since Apr 2017, which

were touched on Tuesday amid a growing fear that the UK might crash out of the

EU without a deal. Cable was in free fall since the European morning on reports

suggesting that UK-EU negotiations have turned more difficult. Losses were

extended through the $1.2400 mark as Sky News reported that Boris Johnson's team

mulls proroguing parliament in the run-up to the Oct 31 Brexit deadline.

- While Tory leadership candidates keep hardening their Brexit stances, EU

officials (including EU Commission Pres-Elect von der Leyen) abide by the view

that PM May's withdrawal agreement is not up for re-negotiation.

- GBP ignored UK jobs report; rising wages & jobless claims offset one another.

- BoE Dep Gov Cunliffe insisted that the UK is not heading towards a recession.

- Bears look to return below $1.2400, bulls eye the Jan 3 low at $1.2441.

- UK inflation data comes out on Wednesday, with retail sales due on Thursday.