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The latest round of Brexit headlines have.....>

CABLE
CABLE: The latest round of Brexit headlines have left cable a touch higher at
$1.3085. This comes after PM May's hard line against the EU weighed on GBP on
Friday. Brexit Sec Raab maintained the rhetoric over the weekend, while
Telegraph reports suggested that a majority of PM May's Cabinet now back a
Canada-style trade deal. Other highlights include a Times story suggesting that
May's aides have been contingency planning for a November snap election to save
Brexit talks & the PM's future.
- Elsewhere, reports suggest that the Labour party will remain open to a
"people's vote" re: a final say in Brexit negotiations, this comes after party
leader Corbyn noted that he would be ready to back another EU referendum, if
party members want one, although he would prefer to have a general election.
- GBP posted a bearish reversal on Friday, as the 100-DMA gave way, allowing
bears to target $1.3000. Bulls need a break back above $1.3200 to turn the
technical outlook back in their favour.
- UK highlights this week include addresses from BoE's Carney, Ramsden, Haldane
& Tenreyro, as well as final Q2 GDP data.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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