Sterling continues to grind lower,............>

CABLE: Sterling continues to grind lower, following Monday's breakdown in Brexit

negotiations. Market had gone long on hopes that the UK and the EU were close to

an agreement only to have that thwarted by the N.Irish DUP voicing concerns that

they wanted the same deal as the rest of the UK. Cable had consolidated between

$1.3462/82 through Asian trade with rate pressed to a recently poste dlow of

$1.3419, with Monday's post DUP low close by at $1.3415. Support noted between

$1.3415/00, a break to expose next level of support at $1.3380 with talk Monday

placing model stops below. The $1/.3350 level holds the strike of an expiring

option for today's NY cut, Gbp747mn, which may add to the downside attraction.

Brexit headlines remain in focus.