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Touched a low Wednesday of $1.2612 at the.....>

CABLE
MNI (London)
CABLE: Touched a low Wednesday of $1.2612 at the 1600BST fix before it slowly
edged back to close the day around $1.2630. This slow recovery extended in Asia
to $1.2637 with opening Europe edging it on to $1.2640. Markets remain on watch
to see who the front runners are for the post of Conservative leader/new PM
after current PM May steps down Jun7. The candidates views on Brexit will be
studied and how they plan to break the current impasse. Top job allocations in
the EU Parliament also awaited, following last weekend's election results, to
judge ongoing Brexit stance from the EU. 
- Cable support now seen from $1.2620 through to $1.2600, area covering recent
lows of $1.2612-06. Resistance $1.2670, $1.2690-1.2700. 
- A light UK data calendar Thursday. BOE Ramsden speaks in Inverness at 0730GMT.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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