Pre NY recovery in cable saw rate push up.....>

CABLE: Pre NY recovery in cable saw rate push up to $1.2853, from an early low

of $1.2806, only to reverse sharply into NY. This corrective pullback extended

to a NY low of $1.2792 before rate settled around $1.2800 into the close. Rate

recovered to $1.2812, market seen buoyed by risk appetite, which in turn was

aided by reported comments from US Trump that a 'great deal' with China

possible. Rate drifted lower into Europe, got shoved down to $1.2793 before it

bounced back just as quickly to $1.2807. Moves seen mainly USD driven with

EUR/GBP holding off Monday's high of Gbp0.8900. A light data calendar in the UK

Tuesday. Mon-end approaching with traders wary of possible EUR/GBP demand. Early

model indications have suggested strong USD demand to be seen at Wednesday's

fixings, accompanied by suggested USD demand from SOMA related flow. Support

seen into $1.2790 ahead of recent low of $1.2777. Resistance $1.2828 ahead of

$1.2850.