Recovery off Friday's low of $1.1278..........>

CABLE: Recovery off Friday's low of $1.1278 extended through Monday trade to an

eventual high of $1.3150. Move aided by positioning ahead of this evening's

indicative votes part 2 with market perception again moving toward a soft Brexit

and away from no-deal, though the latter remains an option. The stronger than

expected UK Mfg PMI release (though countered somewhat as wires highlighted that

much of the strength in PMIs was due to stockpiling: "stocks of purchases index

hit 66.2, the highest in G7 history"), and a raft of poor US data (retail sales,

manufacturing PMI) dented the USD somewhat, also aided the move. However,

sterling struggled to hold gains though has remained buoyed above $1.3100. A

break of this level to expose the earlier hourly pullback low of $1.3080.

Domestic data Tuesday includes Construction PMI. Brexit remains the key

determinate of sterling direction. 

- Voting begins this evening at 1900GMT. The 4 motions include C: Customs Union,

D: Common Market 2.0, E: Ratification Referendum, G: Revocation.