Having broken the initial BOE MPC react low...>

CABLE: Having broken the initial BOE MPC react low from last Thursday(Feb7) at

$1.2854 cable extended its corrective pullback, from its post MPC rally high of

$1.2996, to $1.2845 in NY trade Monday. Like EUR/USD at $1.1267 cable found

decent support at the lows and rate began to slowly recover, edging to $1.2863

ahead of the close. The correction continued in Asia, though at a more subdued

rate than EUR/USD, as rate met resistance around the $1.2870 level(high

$1.2871). UK growth and Brexit concerns continue to keep sterling under the

cosh. Cable recovery efforts remain very shallow. Support $1.2845, a break to

expose $1.2830/25. Clear above $1.2870 to expose $1.2880/85 ahead of $1.2900. 

- The Sun reported that PM May is planning to hand in her resignation this

summer, citing personal opinions of two senior

Cabinet sources. May is set to make a statement re: Brexit to the Commons later

today.

- BoE Gov Carney speak today 1300GMT. MPC Vlieghe will speak Thursday. Brexit

amendment votes Feb14/15

- UK data focus this week on domestic CPI Wednesday & Retail Sales Friday.