Well we can now put some meat on the bones and flesh out the earlier scuttlebutt regarding a U.S. bank and their top 10 trading tips for 2009. A U.S. bank has infact put out an advisory piece listing the first 7 trades of what will be its top 10 trades for 2009. While it doesn’t mention EUR/USD it does advise going long the euro against a basket of emerging market currencies (PLN, CZK, TRY, MXN, BRL.) Also among the trades is a call to go long cable at 1.4800 for an initial target of 1.6500. This no doubt helped fuel the cable rally overnight. Cable having closed out North American trading Wednesday around 1.4785 is presently at 1.4925 having earlier hit a high around 1.4985. Obviously 1.5000 looms large as a fairly formidible psychological barrier.