Roller coaster ride for sterling in late NY...>

CABLE: Roller coaster ride for sterling in late NY trade as markets watched the

Withdrawl Bill(WB) voting in the UK Parliament. The passing of the Withdrawl

Bill took cable to a fresh intraday high of $1.3000 only to drop back to $1.2862

as the timetable was rejected, basically not leaving enough time for the WB to

be passed by Oct31. UK Govt will reluctantly ask for an extension, EU Tusk

saying that he would recommend this. Developments will be watched. Threat of a

no-deal exit and/or a general election emerge if amendments significantly change

the Bill. Cable recovered to $1.2904 before closing at $1.2872. US Trump

positive comments on the Turkey/Syria situation boosted early risk outlook and

allowed cable to edge to $1.2900 in early Asia only for Tokyo's return to

counter this early outlook. Risk aversion saw movement into safe havens and

pressed cable to $1.2841. Rate had recovered toward $1.2870 into Europe, picked

up further demand into the new session which lifted it on to $1.2879.

- A light data calendar in the UK. Weekly questions to the PM at 1100GMT in

focus. 

- Support $1.2841/40, $1.2820. Resistance $1.2900/05, $1.2920, $1.2940-50.