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Rate once again under pressure having.........>

CABLE
CABLE: Rate once again under pressure having broken through session lows of
$1.3870. $1.3855 on the way lower marks the 76.4% Fib level for the
$1.3765-$1.4145 move which may prove supportive. GBP/USD vols remain well
elevated, with 3m implied vols still just shy of the Feb highs (which were the
highest in over 12 months. Politics likely to come back into the frame in the
coming weeks with Theresa May and her cabinet at Chequers today to discuss
Brexit strategy. Reports continue to suggest ongoing friction, disagreement and
discontent among the UK's most powerful ministers.

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