The folks shaken out by the S&P outlook shift as cable dropped a quick three cents are ready to jump out the window as the pound nearly recovers all its losses. The US is getting the scrutiny that the UK got earlier regarding its debt and deficits and the market is voting with its feet, dumping the dollar aggressively.
EUR/USD has recouped its much more modest losses and trades at 1.3820; GBP is at 1.5780.
