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Free AccessTouched a low Wednesday of $1.2612 at the.....>
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.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.