Cable is on the defensive this morning, presently down at 1.4160. According to sources sell stops were triggered just below 1.4200 accelerating the move lower, although it has to be said the sell-off was pretty choppy to start with. It’s pretty hard to get very bullish toward sterling when you have the outgoing deputy governor of the Bank of England warning of a possible decade-long recession. Things are certainly pretty grim in Old Blighty!!!!!
UPDATE: Sources report that UK clearer aggressive seller of cable this morning.
