GBP was relatively immune to a late...........>

CABLE: GBP was relatively immune to a late smattering of Brexit related

headlines as we headed into the Asia crossover. The BBC perhaps offered the best

summary, noting that UK PM May has urged EU leaders to focus on getting a Brexit

deal done over the next 6 weeks, stressing that the negotiations will not be

extended. The dinner event in Salzburg saw the PM insist to the EU that it must

rethink its stance on the Irish border. Various EU leaders (including Juncker)

pointed to a lack of progress, both before & after the dinner, vindicating

earlier reports from the Times that capped GBP on Wednesday after it had

benefitted from a stronger than exp. CPI release.

- GBP/USD last deals at ~$1.3145, virtually unch. Bulls initially need to clear

the 100-DMA ($1.3160) & hold above $1.3200 to cement the longer-term outlook.

Bears need to see a close below $1.3000 to suggest that the recent gains

represent a false break.

- Focus Thursday turns to UK retail sales, with eyes on developments in Salzburg

as EU leaders discuss UK PM May's Brexit proposal.