AUTOREFRESH 
Cable flirts with 1.6000 amid risk retrenchment
By Jamie Coleman || July 8, 2009 at 16:13 GMT
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If it’s risky, sell it. That’s the theme today as cable slides to the 1.6000 area, EUR/USD dips into the 1.3840s and AUD/USD falls back toward 0.7750 (where a barrier is rumored).
Don’t look for sovereigns to catch any falling knives today. They may opportunistically defend a barrier here or there, but I would expect them to be happier to buy EUR/USD, GBP and the like on the way back up rather than try and draw a line in the sand.
Very good bids are said to be down at 1.5900 in cable, if it is any consolation.
Money seems to be pouring into the Yen as all crosses have 6-7 big-fig moves today…
The pound/euro crosses are plowing big time! I’m in the nzd cross, as the pound/euro crosses are a bit too pricey for my rinky dink account. And of course the nzd cross is lagging way behind. Get what you pay for I guess! lol
Cable’s had another abortive attempt at getting back above the rangey support line I mentioned this morning.
Maybe one last go …