Having seen a high in late NY trade...........>

CABLE: Having seen a high in late NY trade Wednesday of $1.3381, as market

reacted to a motion rejecting a no-deal Brexit(though non-binding) sterling

pared gains through Thursday's session to an eventual low of $1.3208. Rate did

manage to recover to $1.3289 into NY though as Article50 extension voting got

underway cable was again pressed lower, this time finding a base at $1.3212. UK

Parliament agreed to extend Article50 and the UK Govt will now got to the EU and

negotiate. Talk suggesting the DUP is falling in line behind PM May's Withdrawl

Bill, some ERG members also seeing it as the worst of two choices if the Bill is

presented for another vote next week. If passed PM May will seek a two month

extension, with no need to enter EU elections. Failure suggests the EU would

look for a longer term extension, which may prompt PM May seeking a 4th go at

passing her Bill (if the Speaker allows). All options remain on the table,

including no-deal. 

- Cable got a slight lift in Asia on risk aversion, edged to $1.3266 before it

settled between $1.3230/55. 

- Support $1.3210/00, $1.3170, $1.3150. Resistance $1.3285/90, $1.3330.