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Rate has slowly stepped its way from its......>

MNI (London)
CABLE: Rate has slowly stepped its way from its earlier Asian dip low of
$1.3190, breaking above its Asian high of $1.3210 in early Europe to extend the
correction to $1.3219. Resistance seen at $1.3226(38.2% $1.3285-1.3190) ahead of
- Brexit developments remain front and centre. An FT report has suggested that
"Theresa May has abandoned plans for a tight new relationship with the EU in
financial services after Brexit, laying out a new proposal for a looser
partnership in her long-awaited white paper on Thursday." This comes after
reports suggested that EU officials have told businesses that chances of a hard
Brexit are as high as 50%. Elsewhere the Telegraph has reported that Donald
Trump may voice his support for a hard Brexit during his imminent visit to the
- Next week brings a raft of UK economic data, including CPI, the labour market
report & retail sales, which could cement/draw questions over a BoE rate hike at
its heavily awaited August MonPol meeting.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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