And why not. Everyone knows it’s a piece of crap
Cable down at 1.5425 from North American close Wednesday up around 1.5500, while EUR/GBP has advanced to .8590 at writing from around .8530.
Talk is a Spanish bank has been a particularly aggressive buyer of the cross, while UK clearer selling of cable has been noted. There is also talk of the usual European central bank month end buying going through in the cross. It’s goes without saying that cable and eur/gbp markets are horribly thin, exacerbating moves.
