Cable down at 1.4960, having closed out Tuesday in North America up around 1.4995, Fitch’s warning yesterday re UK budget deficit still resonating.
It was interesting yesterday. As soon as cable dipped below 1.4950 reports came in of sovereign buying interest surfacing. Looks like cable will be needing more of the same today. Talk has sovereign interest lying in wait down around 1.4930.
Not much in the way of data today:
09:30 GMT: UK industrial production expected +0.3% m/m, manufacturing production +0.2% m/m
