Saw a sharp spike higher in UK holiday........>

CABLE: Saw a sharp spike higher in UK holiday thinned markets Friday, the move

seen in reaction to short term US rates, bringing up the prospect of negative

rates in the US. Cable rallied from a post US NFP low of $1.2357 to $1.2467

before momentum faded and it drifted back to settle above $1.2400 into the

close. Despite an early Asia dip under the figure the rate basically found

support above through the session, and with the help of general risk appetite,

led by demand for GBP/JPY, cable edged to a high of $1.2438 ahead of the

European open, and the return of London markets. A paring of that risk appetite

seen in early trade presses cable back toward $1.2410 but buyers seen emerging

into the dip. 

- Support remains into $1.2400-1.2390 ahead of $1.2360/50. Resistance $1.2438,

$1.2450, $1.2467, $1.2500. 

- A light data calendar in the UK Monday. BOE Breeden speaks at 1200GMT. 

- Expect clarification in parliament to PM Johnson's easing of lock-down. Brexit

transition talks continue.

- UK GDP, IP and Trade in focus for Wednesday.