I’ve just had another ring around to see who’s doing what. If the big players are very short then they have not left any big stop-loss orders with the banks, as far as I can ascertain.
- Plenty of bids, including Sovereign, building now between 1.3565/90, a level which might be forming an interim base
- Offers starting at 1.3730 through 1.3750 and again above 1.3780, though there are also said to be plenty of stop loss buy orders above 1.3740. Talk of Sovereign names selling at 1.3800/25/40 so store that info away for later.
