Cable rises to 1.2627 as European equity gains lift risk-sensitive pound

1.2627 is highest level since Friday's 1.2578 low (1.2587 was Asia low)

Positive start for European stocks follows Asian share gains nL4N3AG0MG

1.2578 was 30 pips shy of August's ten-and-a-half week low nL1N3AG0A5

Friday's high was 1.2711 (after U.S. jobs report/before U.S. ISM mfg beat)

IMM net GBP long shrank by 18% to 48,401 contracts in week ended August 29