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Rate met support ahead of $1.2700 Tuesday,....>

CABLE
MNI (London)
CABLE: Rate met support ahead of $1.2700 Tuesday, traders reported profit take
demand sitting ahead of the figure which provided buoyancy in this session.
However, the easing in EM applied added pressure, via general USD demand, which
provided the added weight to take rate below and to a fresh YTD base of $1.2692
ahead of Europe. Rate has since recovered back above the figure in early Europe
but correction seen soggy. Rate trades around $1.2708 at writing. Germany Merkel
comments Tuesday to the effect that EU and UK should work closely together to
get a deal on Brexit which suits both parties basically ignored but may be a
sign sides are getting closer. UK Inflation data provides the domestic interest
today, UK Retail Sales Thursday. Cable support remains around $1.2700/1.2690
ahead of $1.2660/50. Resistance at $1.2720/23 though tech traders see $1.2740 as
key to aid any upside reversal. 
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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