Cable slipped back to the 1.4030/35 area a few moments ago with banking woes a prime focus in the markets this morning. HSBC shares are down 20% as they try and raise fresh capital in the market.

Dealers suspect there might be some options-related interest to buy Cable on the dips ahead of the 1.4000 level.

Resistance for cable is about a penny higher at the 1.4140 level near-term.