Rate extended lows to $1.2867 Thursday,.......>

CABLE: Rate extended lows to $1.2867 Thursday, after it failed to edge back

above $1.2850(recovered to $1.2939) from its initial low of $1.2889, then met

resistance at that $1.2889 level ahead of the close. However, recovery was able

to slowly extend in Asia, the rate edged to $1.2896 with early Europe providing

the added impetus to take it back above $1.2900 to $1.2912. Resistance remains

into $1.2940/50. Support $1.2890 ahead of $1.2860. Rate continues to track

EUR/USD moves, which in turn seen influenced by risk outlook, as EUR/GBP

continues to hold close to its 200-dma, which again today comes in at Gbp0.8835.

Worries around PM May's meeting with the hardline Brexiteer 1922 Committee were

seemingly misplaced, as former Home Sec. Amber Rudd declared PM May's position

at the head of the Tory party safe, while the 1922 meeting was deemed a

"love-in" by some. 

- UK focus this week falls on UK sovereign debt ratings assessments from Fitch

and S&P due Friday, as well as any further Brexit fallout.