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Position adjustments through the European.....>

CABLE
MNI (London)
CABLE: Position adjustments through the European morning, and ahead of today's
debate and vote on the UK Govt's Brexit Strategy, pressed cable down to $1.2799
(76.4% $1.2670-1.3217; Jan15-25) where it met support into early NY. A brief
reprieve on release of weaker than forecast US Retail Sales data allowed rate to
trade to $1.2840 but momentum quickly faded before it dropped back below $1.2799
and on to $1.2773. Cable managed to recover to $1.2814 but sterling quickly
eased back below the figure with UK Govt seen bruised as it again fails to gain
support for its Brexit Strategy (though vote non-binding).
- Support remains at $1.2773 ahead of $1.2750. Resistance $1.2800/15,
$1.2840/50. 
- UK Retail Sales provide the domestic data interest Friday morning (market
median 0.2%mm, 3.4%yy; ex-auto 0.2%mm, 3.2%yy).
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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