Touched a high of $1.2883 Tuesday before......>

CABLE: Touched a high of $1.2883 Tuesday before risk aversion boosted the USD

which led rate down to an eventual low of $1.2777 in NY, settled around $1.2790

into the close. Rate touched a low in early Tokyo of $1.2779 before it recovered

in tandem with EUR/USD to $1.2802 into Europe. Equity markets off lows has eased

the underlying risk aversion prompting USD long covering. Early Europe extended

the recovery to $1.2814 but seen struggling to build.

- Little in the way of developments in Brexit matters in Wednesday's UK press as

of yet. Some focus on a swing for support of UK PM May in the latest

YouGov/Times poll, although this isn't expected to be a GBP mover.

- UK PM May meet EU's Juncker Wednesday, with the EU showing little signs of

budging re: the draft Brexit deal, and Brexiteers seemingly softening stance

over last 48 hours or so, with talk any triggering of a confidence vote in PM

May could be delayed.

- Brexit headlines remain key driver of direction. Support $1.2777, resistance

$1.2823, $1.2880-85.