Cable has rebounded quite nicely, having posted a session low of 1.4824 it’s back up at 1.4865.
A couple of recent reports are interesting. Sean mentioned earlier that there is talk of sovereign names diversifying out of euros into sterling and aussie.
I’m now hearing reports that a lot of switching into sterling out of swissy via custodials is being seen, apparently for the purposes of buying UK equities. It’s interesting to see the FTSE outperforming other European stockmarkets today.
Technical resistance now at 1.4900/05 and 1.4945/50.
