Sterling struggled to keep pace with the......>

CABLE: Sterling struggled to keep pace with the EUR's stronger, risk led

recovery as the single currency made gains across the board, driven in part by

reported short covering in EUR/GBP after rate's failure to break under

Gbp0.9000. Cable did manage to extend its recovery off Friday's low of $1.2469

to $1.2520, the US markets return providing a boost to risk, after taking its

lead from earlier gains in Chinese equities. Rate was rejected back to $1.2480,

where it met decent support, with cable's pullback getting some relief as EUR

crosses were sold into the 1600BST fix. EUR/GBP saw a mild recovery, though was

seen settling around its key technical 10-dma (Gbp0.9052) in late trade.

- Support $1.2480/75, $1.2450/40. Resistance $1.2520, $1.2530/33(Jul02 high/50%

1.2813-1.2252), $1.2543(Jun24 high).

- BOE Haldane - Fireside chat with Sir Anthony Seldon, University of Buckingham,

(Tuesday 1800BST).