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Recovery off its late NY traded low of........>

CABLE
MNI (London)
CABLE: Recovery off its late NY traded low of $1.3057(off $1.3143 with late
pressure seen on US Trump comments concerning tariffs on China) extended through
Asia to $1.3084, gaining an added boost in opening Europe trade as market
reacted to EU Barnier comments seeming to confirm earlier press reports that the
EU is looking to smooth Irish border concerns as Brexit negotiations continue.
Rate touched an extended recovery high of $1.3089, the rate holding firm at
writing. Resistance seen into $1.3090(38.2% $1.3143-1.3057), a break to expose
$1.3100/10. Support remains at $1.3058/57(Asia/NY lows). A light data calendar
Monday with most attention on Wednesday as market awaits UK Inflation data and
discussion of Brexit at the European Council meeting in Salzburg(Sep19-20). BOE
Chief Economist Haldane also speaks Wednesday. UK Retail Sales Thursday. Brexit
headlines remain the key driver in sterling.  
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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