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Trend Needle Points North Despite Recent Pullback


Late SOFR/Treasury Option Roundup


Recovers Further Off Support

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Sterling remains on the defensive,............>

MNI (London)
CABLE: Sterling remains on the defensive, following the post US NFP/AHE sell off
Friday, with UK weekend press again showing the Conservative Party splits on
Brexit, adding further negative weight. Cable traded off Friday's high of
$1.4278 to $1.4102, recovered to $1.4174 ahead of its $1.4124 Friday close.
Early Asia extended losses to $1.4083, though rate managed to recover to $1.4129
ahead of the European open. However, fresh sell interest has emerged into this
session, taking rate back to $1.4095, currently trading around $1.4102. UK
Services PMI(the most important of the set) due for release at 0930GMT, median
54.1 vs 54.2 last. BOE MPC Super Thursday also looming on the horizon. No change
widely forecast, focus on the Feb Inflation Report and growth/inflation
* Cable support remains into $1.4080 ahead of $1.4050. Resistance $1.4130,
* Eur/Gbp has crept higher in early Europe, expected to meet resistance
* Option expiries of note, nothing in cable, Eur/Gbp Gbp0.8800-05(E760mn)
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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