Sterling has picked up some mild demand.......>

CABLE: Sterling has picked up some mild demand interest as London returns from

its long weekend, but move away from Monday's low of $1.2208 only able to edge

to $1.2225. Rate retreated away from Friday's late high of $1.2294(seen on Trump

lifting of China tariffs by 5%) through Monday morning as markets reacted to

U.S. Pres Trump's positive comments re: trade relations with China which

provided the USD with a positive boost. Cable losses extended pre-WMR fix to

$1.2208, bounced to $1.2239 at the fix before it eased back toward earlier low.

- French Pres Macron noted that Brexit wasn't a subject matter of the G7 summit

talks, adding that "we are close" to a no-deal Brexit. Nonetheless, UK PM

Johnson held some Brexit discussions at the side lines, earning praise from U.S.

Pres Trump & meeting with the leaders of Australia & Egypt.

- Telegraph reported that Johnson will send a "Brexit sherpa" to Brussels today

to discuss alternatives to the current Brexit deal with EU officials.

- Little in the way of major data releases on the UK docket this week. BoE's

Tenreyro will speak on a panel alongside ECB Vice Pres de Guindos later today.

- Cable support $1.2208-1.2195, $1.2175. Resistance $1.2225/32, $1.2286-94.