Cable rises to 1.2780 as risk-sensitive GBP benefits from global stock gains

1.2780 is highest level since August 6 (1.2666 was five-week low on Aug 8)

Offers expected circa 1.2800 if GBP/USD adds to gains (1.2803 was Aug 6 top)

UK employment data due Tuesday at 0600 GMT; ex-bonus pay forecast up 5.4% YY

UK CPI data due Wednesday; 2.3% YY forecast. US CPI data also due Wednesday

CFTC data showed net GBP long almost halved from all-time high in two weeks