Cable has had a good morning, gaining about 1 1/4 cents, presently up at 1.4520. Short covering ahead of the weekend G7 and the US holiday Monday is helping matters as general risk sentiment sees some marginal improvement, buoyed by hopes for a US government programme to subsidize mortgages. The FTSE is up around 1.6% while the DAX is up around 2.2%. There is apparently some nervousness about what might be said about sterlings’ weakness at the G7. Can’t imagine anything being said which hasn’t already been said. Sources report trading conditions as “thin” as players increasingly head for the sidelines, unwilling to take on major positions ahead of the weekend. Technical resistances now lie up at 1.4530 and then 1.4555/60.