Cable languishes down around 1.4900 this morning, so far failing miserably to show any signs of recovery after its’ recent sharp losses. More doom and gloom on the jobs front with BT announcing they will cut 10,000 jobs out of a workforce of 160,000. We are now hearing of significant job losses it seems almost on a daily basis. Those frightening estimates of UK unemployment headed to 3 million no longer look exaggerated.