Cable down 161 pips on the day

The pound has given up virtually all its post-Fed gains on Brexit worries after the terror attacks in Belgium. Bookmakers have pushed up the odds of a vote to leave the EU to 36% from 33% a day ago.

Technically, it looks to be the second consecutive day where cable finishes on the lows. In the aftermath of the Fed decision the pound was the best performing major but that has now completely reversed and it's lagging everything but the dollar.

Support at 1.4220 earlier gave way and cable has stabilized but the total inability to bounce is a negative signal.