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Cable rallies on FT article re Prudential deal

By   || March 3, 2010 at 00:03 GMT
|| 3 comments || Add comment

An article in the FT is saying that the fall in the Prudential share price since last week may jeopardise the deal to buy AIG’s Asian unit. If that were to happen, the hedging which was done for them by a UK clearer on Monday would have to be unwound as would many of the bigger hedge funds short-sterling bets. Cable has jumped from 1.4970 to 1.5030 and this story is definitely worth following.

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3 Responses to “Cable rallies on FT article re Prudential deal”

  1. Emilio on March 3rd, 2010 00:16 GMT

    They broke my cute triangle :( :

    http://www.pict.com/view/3011643/0/screenhunter01mar

    ..and a trendline

    I shorted a small lot on the triangle boundary and I am gonna let it be for a little while as it could be a false breakout.

  2. lilac on March 3rd, 2010 00:16 GMT

    Well that was all pretty clear yesterday.
    Jeez it takes them more than a day to work that one out :S

    ANyway – here we go again:

    http://news.sky.com/skynews/Home/Politics/Election-Date-Likely-To-Be-May-6-Childrens-Secretary-Ed-Balls-Tells-Sky-News-Kay-Burley/Article/201003115565467?f=rss

    “Mr Balls also acknowledged his ambition to one day become Chancellor.”
    What a twonk.
    Be very afraid :(

  3. Asian FX market wrap: sterling recovers some ground | ForexLive on March 3rd, 2010 05:00 GMT

    [...] Cable rallied almost 100 pips after doubts began to emerge whether Prudential may have to pull out of AIG deal and therefore un-do FX hedging [...]

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