Back of speedo. Fuse?

[Raven 88]

Ok Guys
Got the speedo out and on the back of it is what looks like a fuse. Thing is a wire broke off and it is a bugger to solder back on. What's it for? Is it a fuse and is it necessary? Can I delete it or do I fix it.
Thanks

 

[gggGary]

Not a fuse, that's how the turn signal canceler figures out how far you have gone. If you don't have the canceler you don't need it.

Or as jayel sez; a reed switch.

 

[jayel]

it's called a reed switch and yes part of the turn signal cancelling system