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CABLE: Lifts through the mentioned minor resistance area of $1.2970 on release
of stronger than forecast UK IP data (Mfg as expected) to $1.2985, rate
currently trades around $1.2982. Traders had suggested we could see a stronger
release but suggested that if we saw this outcome it might not benefit the pound
for long, suggesting improvement in this sector not enough to offset recent
losses in the Services side of the economy. Rate trades at $1.2978 at posting.