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Having touched NY recovery highs of...........>

CABLE
CABLE: Having touched NY recovery highs of $1.4246, GbpUsd failed to build
momentum and drifts towards the $1.4205/10 area at typing. A break of post CPI
lows ($1.4173) opens $1.4146/23 (Apr12 low/61.8% $1.3966-1.4377). Eur/Gbp
remains elevated near the upper-end of its Gbp0.8644-0.8722 daily range. Focus
turns to the release of tomorrow's UK Retail Sales with analysts at Barclays
indicating significant weakness in weather sensitive areas such as spending at
garden centres and DIY stores, signalling that March retail sales might be
negatively impacted by the storms. Nomura forecast a decline in official sales
in March.

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