Cable has tacked on about half a cent in early European trade, presently at 1.4335. Would expect some sell orders lined up at 1.4340/50 with maybe smallish stops just above there. I ‘ve found watching cable this week quite fascinating, the 1.4400 level (where huge May 20 option expiry lies) acting like a powerful magnate to price action. Make’s you wonder where it’ll be sitting when we run into the New York cut Thursday.
Latest Bank of England minutes up at 08:30 GMT.
