The pound is out-performing today as dealers continue to cover shorts. The pound has stabilized in recent days, spurred in part by European jawboning over the weak pound, as well as on comments from Soros that he was covering shorts. This morning’s better than expected home price data helped reinforce the trend.
EUR/GBP trades down at 0.9166 from above 0.9500 earlier in the week. Cable is firm at 1.4350.
