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Release of strong headline NFP Friday saw.....>

CABLE
MNI (London)
CABLE: Release of strong headline NFP Friday saw cable pressed to a fresh 2020
low of $1.2882 ahead of the close. Rate performed a slow recovery through Asia,
risk aversion was seen easing on reports that some Chinese workers were
returning post LNY, but restrictions remain linked to the coronavirus outbreak.
Cable edged to $1.2909 into Europe before it came under another wave of sell
pressure which has taken it back to $1.2889. Same time EUR/GBP has edged back to
retest its stiff resistance between Gbp0.8495/0.8500. The Sunday Telegraph said
new European Union carbon border tax could lead to tariffs being slapped on
British imports of steel, cement and aluminium in a climate change trade war
after Brexit. 
- A light UK data calendar Monday. Focus on Brexit trade comments and
co0ronavirus developments.
- Cable support $1.2880, $1.2850. Resistance $1.2910, $1.2950/60. 
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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