A regional Asian central bank has again got buying interest in the cable around 1.6600 and just below.
Note: These bids are normally around GBP50 million or sometimes GBP100 million. To put this into perspective, many interbank traders are running position sizes bigger than this so one dealer cutting his position could be enough to fill the bid- and there are hundreds of bank and hedge fund dealers active in the market at any one time. Just because a central bank is on the bid or offer doesn’t really mean all that much unless it’s China defending an option barrier of course.
