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Sky YouGov poll release Tuesday, which........>

CABLE
MNI (London)
CABLE: Sky YouGov poll release Tuesday, which showed the Conservatives 14 points
clear of Labour after Brexit Party Farage agreed to stand down candidates in
sitting Tory MP constituencies, provided a boost for sterling, allowing cable to
extend its recovery off an earlier low of $1.2816 to $1.2874 before it drifted
back post Trump speech to close around $1.2845. Poll release allowed EUR/GBP to
retest Monday lows of Gbp0.8558 before recovery through the balance of the
session and into Asia to Gbp0.8574. Cable consolidated between $1.2843/62 in
Asia, trading around $1.2853 in early Europe. 
- Brexit/Election developments remain the key driving force in sterling
direction. However, UK CPI release at 0930GMT will be of interest, market median
-0.1%mm, 1.6%yy (last 0.1%mm, 1.7%yy). US CPI and Fed Powell appearance will
provide interest during the afternoon. 
- Support $1.2816, $1.2800(option expiry here today Gbp778mln). Resistance
$1.2874, $1.2900.     
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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