Cable has extended it’s overnight slide, presently at 1.4920 having been as low as 1.4915 so far.
Talk in the market is that a UK clearer hit the market early. It’s said to be the same clearer who was reported buying 6-month 1.4400 cable puts yesterday. Hedge fund selling has also been noted. As yet no reports of notable sovereign buying having emerged.
Stops being tipped through 1.4880.
