Cable breaks above the big figure
The pound is the big winner in the FX market today.
Touted offers at 1.2500/05 have broken as the pair touched off 1.2511. It's up nearly two full cents from the early European low of 1.2513.
The post-election high is 1.2674. So far the pound is the only currency to outperform the US dollar since the election.
The pound moves on the crosses over the past two weeks have been much more dramatic than GBP/USD. There was talk earlier that buying in GBP/JPY was behind the jump in the pound at the start of US trading.
