Having consolidated in the main part of the...>

CABLE: Having consolidated in the main part of the Asian session above $1.2500

early Europe pressed rate back toward Friday's late low of $1.2474 taking it on

to an extended low of $1.2455 before it recovered toward $1.2550(touched

$1.2548, just shy of Friday's hourly recovery high of $1.2550). Corrective

pullback saw rate open NY at $1.2511. Earlier risk aversion continued to reverse

in NY, led by the recovery in US equities, the USD paring gains which allowed

cable to extend its recovery to $1.2579, steadying around $1.2560/65 into the NY

afternoon.

- Support $1.2510/00, $1.2474, $1.2455/50. Resistance $1.2580, $1.2592(38.2%

$1.2813-1.2455), $1.2600.

- UK Employment Report at 0700BST Tuesday, the ILO unemployment rate forecast to

rise to 4.6%, from 3.9%. 

- US Retail Sales at 1330BST, Fed Clarida speaks later at 2300BST.

- Main focus remains on the BOE MPC monetary policy announcement Thursday. No

change in rates widely expected, though an increase in the Asset Purchase Prog.

of Gbp100bln seen likely.