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(U2)‌‌ Corrective Cycle Still In Play


EU H2-22 funding plan


Equities are extending gains


1/3/6-month UKTBs

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CABLE: GBP/USD unchanged in early Asia dealing, last $1.2788, as cable sticks to
a tight range.
- Little in the way of developments in Brexit matters in Wednesday's UK press as
of yet. Some focus on a swing for support of UK PM May in the latest
YouGov/Times poll, although this isn't expected to be a GBP mover.
- UK PM May set to meet with EU's Juncker Wednesday, with the EU showing little
signs of budging re: the draft Brexit deal, and Brexiteers seemingly softening
their stance over the last 48 hours or so, with talk that any triggering of a
confidence vote in PM May could be delayed.
- Various BoE MPC members, including Carney, offered little new in their Tsy
select hearing Tuesday.
- Recovery efforts have lacked impulse, capped around the $1.2880 level,
suggesting that the bearish trend remains intact. Thursday's low of $1.2724
remains the focus as does up trendline support from the Aug lows at $1.2704.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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