Someone out there can’t wait to unload the pound.
Cable selling on the soft UK Markit PMI started like a trickle but has turned into a cascade.
The first bounce came at 1.5413 earlier and extended up to 1.5440 as skeleton staffs arrived at US desks but a fresh wave of selling is under way down to a 16-month low of 1.5405.
A strong line of bidders kicks in at 1.5400 including a rumored barrier. Stops below. More bids at 1.5350.
Cable daily
