Recovery off Tuesday's low of $1.1959.........>

CABLE: Recovery off Tuesday's low of $1.1959 extended Wednesday, the move aided

by moves in parliament to block a no-deal Brexit, the vote last night passing

and expected to get Royal assent by Friday. PM Johnson's threat to call a

General Election thwarted as opposition Labour abstained, denying the Govt the

2/3 majority needed to pass. Add to this the improvement in risk tone, HK

withdrawing it extradition bill, with confirmation overnight of lower level

Sino-US trade talks to take place in Oct, saw cable push up to $1.2258

Wednesday, opening Asia edging it to $1.2259 before it drifted off through the

balance of the session to $1.2234. Early Europe has given rate a bigger shove

lower, easing it to $1.2222. Initial support seen into $1.2220 ahead of $1.2200.

A break to expose the 10-dma at $1.2196 ahead of an hourly low of $1.2163.

- A light UK data calendar Thursday. BOE Tenreyro due to speak in Frankfurt at

1330GMT.

- US ADP and Weekly Jobless Claims in focus ahead of Friday's US NFP and Fed

Powell speech ahead of Fed blackout period.

- Brexit political manoeuvring remains the key driver for sterling direction.