Cable has come under heavy pressure in early European trade, giving up well over a full cent, presently at 1.6555.
There’s been a definite pick-up in risk aversion and this will be weighing, sterling having a habit of under-performing against this backdrop.
Supports now 1.6530/35 and then 1.6495/00.
EUR/GBP trading firmer, presently at .9115 from early .9060. Here the perception Euro zone rates will be headed higher long before those of the UK will be lending decent underpinning.
