Sterling remains a beneficiary of risk........>

CABLE: Sterling remains a beneficiary of risk. Cable saw a pre US Jobs data high

of $1.2690 Friday, dipped to $1.2620 ahead of the NY open before it was pushed

up to $1.2731 in a risk on move triggered by the release of better than forecast

US jobs data, after overcoming an initial boost to the USD. Cable turned lower

through Friday's 1600BST fix, easing off to $1.2661 before settling around

$1.2670 into the close. Weekend reports that PM Johnson is planning to further

relax the Covid lock down, allowing outdoor dining and weddings, as well as

speeding up government investment plans to limit virus economic effects, put

sterling in a position to enjoy the risk on appetite in Asia, following on from

Friday's US data, took cable to $1.2730 before it settled around $1.2700 through

to Europe. Early Europe applying some sell pressure but rate holding most of its

gains so far. A light calendar for the UK until Friday where we see Monthly GDP,

IP, Trade Balance, BOE/TNS inflation next 12-mos. Highlight this week will be

the FOMC Wednesday.

- Support $1.2660, $1.2620, $1.2589(61.8% $1.2501-1.2731). Resistance

$1.2730/31, $1.2750, $1.2778(76.4% $1.32-1.1412)