Cable is trading like a champ as the dollar rebounds sharply after payrolls. It is unclear whether this is a continuation of M&A demand for the pound that has been in play all week or whether this is a liquidation of EUR/GBP longs. The pound could also be benefiting from the perception that more flexible anglo-saxon economies will rebound more rapidly than the euro-zone.
Also trading is the Canadian dollar, getting a boost from its outstanding employment report and from signs that its southern neighbor may be recovering, an essential factor in any sustainable Canadian recovery.
