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Thursday provided another choppy session......>

CABLE
CABLE: Thursday provided another choppy session for sterling, with cable
finishing 61 pips worse off. The rate ticked higher in the London morning, as a
Labour spokeswoman said that her party will back calling a general election if
the EU grants a Brexit extension, but a subsequent sell-off more erased those
gains. Cable extended losses in the London afternoon, dropping to intraday lows
as PM Johnson said that he will ask the Commons on Monday to agree on a snap
election. A subsequent recovery held shallow with Labour leader Corbyn making
support for a fresh elex contingent on taking a no-deal off the table.
- Corbyn added that he wants to see the EU's decision re: extension first. But
BBG sources said that Brussels is unlikely to reach a definite conclusion before
the weekend and would now prefer to wait until the situation in London gets
clearer. The so called Coreper II group consisting of member states' ambassadors
to the EU is set to discuss the delay question later today.
- GBP/USD last sits at $1.2842, 9 pips lower on the day. Bears look for a drop
below the nearest round figure towards the 200-DMA at $1.2715. Bulls look to
retake the Oct 21 high of $1.3013.
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