OK cable has seen a semi-decent rally, presently up at 1.5070. But given the most recent developments I’d have thought it might have been a little higher.

Earlier I told Millward “I’m fairly bullish cable and a little less so the euro.” What i meant to have said was “I’m fairly bullish the euro and a little less so cable.”

Anyways, I’m a borne again optimist, and I’m increasingly convinced the worst is over regarding the global economic crisis (remember Gerry, think HAPPY thoughts.)

Cable seems to be lagging, as shorts in the GBP/EUR cross (which has had a good run lower) look to book a few profits on the approach of .8800. Maybe cable can play catch up later.