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USD demand resumes into early Europe, after...>

CABLE
MNI (London)
CABLE: USD demand resumes into early Europe, after Asia consolidated Tuesday
gains. Cable back below $1.3100, extends intraday low to $1.3093 but so far
holds off a retest of Tuesday's politically inspired low of $1.3070. Suggestions
from Asian traders that option linked demand seen in place to $1.3050(YTD low
Jun28). UK CPI provides the domestic data focus at 0830GMT, market median
0.2%mm, 2.6%yy. Some suggest that the data could come in on the stronger side
due to the rise in petrol and energy prices. If this proves to be the case it
could provide some support for sterling but Brexit concerns, with market on
headline watch, remain key to next direction. Fed Powell second part of his
semi-annual testimony in front of House Panel remains in focus, Q&A of interest.
Cable resistance $1.3120(Asia high) ahead of $1.3150/55. 
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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