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(N1) Fresh Cycle High


Effective Fed Funds Rate


Selling interest across the board

CABLE: Rate improves to the best levels of the session on little newsflow or
data, recovering above the $1.30 mark to hit $1.3015 in the early NY crossover.
Any further upside in the rate may run into resistance at the 200 hourly moving
average at $1.3041 ahead of the Apr17 high at $1.3067 and the 55-dma at $1.3087.
Conservative and Labour lawmakers re-enter discussions over striking a
compromise on May's withdrawal deal acceptable by both parties today, but little
is expected to emerge between the two polarised views. GBP remains highly
sensitive to politics at present, particularly any further reports suggesting
May could be replaced in the coming weeks/months.
MNI London Bureau | +44 203-865-3809 |