Recovery off Tuesday's pullback low of........>

CABLE: Recovery off Tuesday's pullback low of $1.2480 picked up pace through

Asia and Europe on the back of positive COVID-19 vaccine reports which boosted

risk which placed pressure on the USD. Rate extended its late NY recovery high

of $1.2564 to $1.2635 ahead today's NY open, with the US market taking over the

baton and lifting it to $1.2650 before the USD performed a sharp turnaround at

the Dow open. Rate was knocked back to $1.2596, lifted to $1.2626 at the fix

before extending the corrective pullback to $1.2575 into the European close.

Mild risk appetite seen into the NY afternoon allows rate to nudge back toward

$1.2600 at writing.

- Into Thursday and UK Employment Report due at 0700BST(June claimant Count

median 250,000 vs 529,900 April).

- Support $1.2575/65, $1.2545(61.8% $1.2480-1.2650) ahead of $1.2520(76.4%).

Resistance $1.2600, $1.2650, $1.2666/70.