Cable having slumped to a session low 1.6488 is rallying back strongly, presently at 1.6545 not far from where it started out.
Thin Friday trading conditions are helping exacerbate moves in cable, with triggered stops below 1.6540 and 1.6500 accelerating the earlier sell-off. It’s proven difficult to pinpoint the reason for the sharp fall from grace, but the Bloomberg article re US toxic assets certainly didn’t help.
