Sterling retains buoyancy despite the.........>

CABLE: Sterling retains buoyancy despite the negative noises coming from

Brussels, the BBC earlier reported that the UK has been urged to table fresh

proposals within the next 48 hours to break the Brexit impasse. Report also said

that EU officials would work non-stop over the weekend if "acceptable" ideas

were received by Friday to break the deadlock over the Irish backstop. Market

seen looking beyond next week's Meaningful Vote on Mar12, Cabinet members said

to be looking at another defeat for PM May's Bill (by around 100 votes), and

news that opposition Labour leader Jeremy Corbyn has met with Tory MPs to

discuss possible alternatives to the PM's deal which could suggest a softer

Brexit being worked on. Trade in Asia saw cable recover off an early low of

$1.3168 to $1.3185 but was seen pressing on the earlier low into Europe. Next

support seen into $1.3150 ahead of $1.3135/25. Resistance $1.3185, $1.3200. 

- Brexit developments remain the key driver of sterling. BOE Tenreyro speaks

this morning at 0930GMT in an otherwise light UK calendar. Focus outside on ECB

Draghi press conference at 1330GMT today, US Employment Report Friday.