Cable at 1.8015 is perilously close to taking out the psychological 1.8000 line. There has been more bad news on the housing front this morning and this certainly isn’t helping the pound’s cause. August mortgage lending plunged to GBP 0.14 bln from GBP 2.998 bln in July, the lowest since figures started to be kept back in 1993. Meanwhile August mortgage approvals posted a new low, down at only 32k from 33k in July. The slump in house prices is set to continue, infact we’re very likely someways from a bottom. The U.K. economy is set to slow, possibly dramatically, as consumer confidence evaporates.