### - POV - Under pressure in early Europe....>

CABLE: ### - POV - Under pressure in early Europe as rate breaks below its

earlier Asian base of $1.3124 to extend the intraday low to $1.3106. Early

trader reports seem to have a very negative tone toward sterling based on

continued Government Cabinet Brexit related infighting over the weekend along

with views that this week's BOE meeting may ease away from its recent hawkish

tones due to softer data releases. Views over the BOE MPC split, one major US

bank sees only 2 dissenters vs majority for no change in rates, though a major

US Investment bank, and a major German bank, suggest could again be a 5-3 split

with Haldane possibly moving across to the hawk side. Whatever the outcome there

is little chance seen for a rate hike at this week's meeting. End month and

traders will be wary of possible European sovereign RHS interest at today's

fixes. A break below $1.3100 would leave area between $1.3065/50 exposed.

Resistance remains at $1.3150/65.