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Lifted in tandem with EUR/USD in opening......>

CABLE
MNI (London)
CABLE: Lifted in tandem with EUR/USD in opening European trade, the rate
extended its intraday high to $1.3251(Asia $1.3244) and remained firm. Friday
comments from BoE Deputy Governor Cunliffe boosted GBP as he stated that the Q1
economic moderation was driven by poor weather and supported arguments for the
next rate hike at the BoE's August meeting. This along with UK positive trade
comments from US Trump seen keeping sterling buoyed. Weekend Brexit headlines,
UK PM May stressed that the UK risks "ending up with no Brexit at all" &
revealed that U.S. Pres Trump advised her to sue the EU re: Brexit. The UK's
Brexit white paper will appear in the Commons today, with some senior
eurosceptics expected to table amendments. In the Guardian, article said MP
Justine Greening has shown support for another Brexit referendum.
- This week brings a raft of UK economic data, CPI, labour market report &
retail sales, which could cement/draw questions over a BoE rate hike at its
awaited August MonPol meeting.
- Support $1.3226 ahead of $1.3200-1.3190. Resistance $1.3264(61.8%
$1.3363-1.3103). 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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