Reported comments from BOE Deputy Governor....>

CABLE: Reported comments from BOE Deputy Governor David Ramsden seen shifting

his position from the 'dovish' side of the BOE MPC camp to 'hawk' with mention

of wage growth impetus acted to boost sterling in Asia, took rate from an early

low of $1.3964 to a high into Europe of $1.4027. Rate has maintained gains in

early trade and seen keeping focus on the upside. Next resistance area noted

between $1.4025/35 ahead of $1.4050. Traders aware that the $1.4000 level holds

the strike of a large option, set to roll off at today's NY cut, value

Gbp2.34bn, which could act to keep rate anchored close by into the run off.

Brexit comment remains a directional factor. Daily Telegraph report suggests the

Office for Budget Responsibility could be set for an embarrassing U-turn, seen

preparing to dramatically hike forecasts for UK growth, just months after they

were downgraded, a move which could shrink the deficit and deliver a Gbp15bn

windfall for the Chancellor.