Selling pressure hit GBP as the Telegraph.....>

FOREX: Selling pressure hit GBP as the Telegraph published a post-election

Brexit report, which suggested that UK PM Johnson wants to use Tory majority in

the Commons to push through a beefed-up Brexit bill. Revised legislation would

prevent any extension to the transition period, guaranteeing a 2020 divorce with

or without a trade deal. Cable accelerated decline on the breach of $1.3300,

with BBG trader sources citing the execution of sell-stops under the level.

- Regional releases have driven a wedge between the Antipodeans. A relatively

upbeat ANZ Business Confidence Survey out of New Zealand has propped up NZD.

Meantime, AUD has faded as the RBA's Dec MonPol meeting minutes pointed to a

need "to reassess the econ outlook in Feb '20, when the Bank would prepare

updated forecasts" and expressed readiness to ease policy if required.

- USD showed some strength after participants picked up on that Telegraph story

and has remained fairly solid since.

- Today's docket includes UK labour mkt report, U.S. housing starts, building

permits & industrial output and EZ trade balance. ECB's Rehn, Kazimir and Lane,

BoE's Carney and Fed's Kaplan and Rosengren are due to speak.