Pulled along by EUR/USD's stronger recovery...>

CABLE: Pulled along by EUR/USD's stronger recovery Thursday, whilst EUR/GBP

again met resistance ahead of Gbp0.9000, which allowed cable to edge to $1.2343.

Rate eased off to $1.2312 during the NY afternoon, closing the day around

$1.2322. Rate marked a low of $1.2309 in early Tokyo, after a slow Asian start,

but again tracked EUR/USD higher as the EUR/GBP was again meeting decent

headwinds as it approaches Gbp0.9000. Cable was able to push up to $1.2358 but

held shy of retesting Tuesday's high of $1.2363, as well as the technical

resistance at $1.2360(50% $1.2643-1.2076). A break of this area to open a move

toward $1.2375/80 ahead of $1.2400. Support $1.2310/00, $1.2285/80, $1.2250. A

break of Gbp0.9000 to expose the topside of its 1.0% 10-dma envelope, currently

coming through at Gbp0.9046. 

- Light UK calendar with attention on month-end flow, one bank noting Thursday's

US equity market close showing around a 4% gain confirming USD sales to be seen

vs sterling, US Trump press conference concerning China (no time given) and Fed

Powell appearance at 1600BST. Brexit negotiations begin again Monday, difference

aspects of the agreement to be negotiated through the week.