### - POV - This week had been marked down....>

CABLE: ### - POV - This week had been marked down to be mainly driven by

political events and so it proved to be with Brexit negotiations grabbing the

headlines for sterling. This along with last night's US Senate vote to adopt the

2018 budget resolution (opening the door for proposed tax reforms) acted to

press cable to $1.3087, extending the corrective pullback from last Friday's

high of $1.3337. Favorable comments heard from EU officials, with Germany Merkel

last night seeing chance to move toward second phase by December, though nothing

definite. Market will be waiting for weekend press reports on Brexit with

possible pre BOE MPC analysis to determine how much a rate hike is written into

the November meeting.  Recent dovish comments from new members Ramsden and

Tenreyro, with Governor Carney comments seen not fully committed to a rate move,

could spark some debate whether the Bank will move at the next meeting. Cable is

seen recovering into the NY session, has touched $1.3180. Despite this recovery

sterling has the potential to come under pressure Monday from negative press

reports.