Cable has come under heavy pressure, presently down at 1.6515. Next technical support at 1.6500. Talk of some buy orders lined up down at 1.6500/10.
Bloomberg is carrying an article about US banks and toxic assets, which will not be helping sterling, given it’s close tie up with the health of the financial sector.
Apparently more than 150 publicly traded US lenders own nonperforming loans that equal 5% or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival.
