Rallies to an extended, and fresh YTD, high...>

CABLE: Rallies to an extended, and fresh YTD, high of $1.3284 through to the

1600GMT fix, with move aided by UK PM May as she laid out a clear procedure for

lawmakers to vote against a disruptive 'No Deal' Brexit. May's move to allow

lawmakers to vote against leaving the EU without a deal has raised the market's

expectations of either a soft Brexit or a delay to Brexit itself. Post fix rate

eased off to $1.3233 but currently seen around $1.3250. The earlier move above

the 50-wma at $1.3153 seen keeping outlook buoyant, though this level will be

watched into Friday's close. However, sterling currently riding the wave of soft

Brexit enthusiasm but experience has taught the market to be wary of the next

headline. Resistance now seen at that earlier high of $1.3284 ahead of the Sep21

2018 high of $1.3298. Minor support at $1.3235/30 ahead of $1.3200, a break to

expose $1.3150/40. Brexit developments remain key sterling driver, a soft Brexit

would make UK investments attractive with the current low value of the pound and

should underpin.