Sterling lost a bit of its recent shine.......>

CABLE: Sterling lost a bit of its recent shine through UK holiday thinned trade

Monday, cable eased from an early high of $1.3185 to $1.3082 into early NY

before it settled around $1.3100 through the rest of the day. Rate touched an

early low of $1.3090 in Asia before it edged to $1.3131 before settling around

$1.3125 into Europe (and return of UK market). Early sales knocked rate back to

$1.3113 but currently trades around $1.3120. Sterling has found recent support

on the back of the outcome of last Thursday's local election results in which

both of the main parties fared badly, allegedly due to Brexit annoyance by the

electorate. The result seen pushing the Conservatives and Labour into a

situation where they need to progress Brexit discussions. Reports have suggested

that PM May has carried out scenario planning for a second referendum (supported

by many Labour MP's), as well as EU Barnier reported saying that he is willing

to revise the Brexit blueprint on future ties.

- A light data calendar in the UK Tuesday but BOE Cunliffe due to speak this

morning at 0800GMT. BOE Chief Economist Haldane speaks at 1630GMT.