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Sterling has started the session on the.......>

CABLE
CABLE: Sterling has started the session on the front foot and remains buoyant.
Traders speaking to BBG cited the squaring of short positions entered after
Moody's changed the UK's credit outlook to negative from stable late doors on
Friday, but there is also chatter of positive impact of the latest polls, which
put the Tories comfortably in the lead. Cable deals at $1.2796, 21 pips higher.
- Per Moody's statement, the change to the outlook was motivated by "the
increasing inertia and (...) paralysis that has characterised the Brexit-era
policy making." The Aa2 rating was affirmed.
- Snr Tory and Labour off'ls clashed over the predicted cost of each party's
election pledges. Cll'r Javid estimated the cost of Labour's spending plans at
1.2bn pounds, a figure promptly dismissed by shadow cll'r McDonnell.
- Following Friday's close under the Oct 24 low of $1.2789, bears target the
200-DMA at $1.2704. Bulls look for a break above the Nov 5 high of $1.2917. 
- UK GDP (p), trade balance & industrial output come out later today, labour
market data hits on Tuesday, inflation figures are due on Wednesday, while
retail sales will be published on Thursday.

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