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Rate continued to consolidate its recovery....>

CABLE
MNI (London)
CABLE: Rate continued to consolidate its recovery rally, seen Friday from
$1.3983 to $1.4105, remaining buoyed above its NY pullback low of $1.4076
through the Asian session as trade was restricted to a relatively tight range of
$1.4077-1.4111. Bank reports tend to suggest a positive feel for sterling,
Wednesday's UK IP expected firm and if proved correct will boost outlook for Q1
GDP and provide further support for rate hike outlook. Brexit concerns also
fading and seen aiding sterling but keep an eye on headlines. Resistance seen to
$1.4120, support $1.4077/76 ahead of $1.4050. A fairly quiet start to the week
expected, data calendars generally seen light with attention on China Xi's
response to recent US trade tariff threats with its affect on risk. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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