Touched a pre month-end fix high of $1.2394...>

CABLE: Touched a pre month-end fix high of $1.2394 then fell back to $1.2292.

Buyers moved into the dip and took rate back to $1.2350 into the close. Risk was

given a late lift as US Trump's well publicised press conference failed to

provide more hawkish comments concerning China/HK than what had been expected.

This risk outlook carried over into Asia Monday, initial failure to retest

Friday's high produced a minor pullback to $1.2373 before a second wave of

demand lifted rate above, the momentum taking it through $1.2400 and on to

$1.2415. Profit take sales eased rate to $1.2377 ahead of Europe but fresh risk

linked demand emerged to take rate back above $1.24. Risk keeps rate buoyed

though market will be wary of potential comment coming from this week's Brexit

negotiations with no-deal remaining the UK threat before Dec31.

- Focus this week on final PMI's in the UK, following stronger than forecast

flash releases. Mfg PMI due this morning at 0930BST, key Svcs PMI Wednesday. BOE

continues to mention potential use of negative interest rates.

- Cable support $1.2377/73, $1.2325/20, $1.2300-1.2290. Resistance $1.2415,

$1.2426(61.8% 1.2643-1.2076), $1.2467(May08 high).