I feel it’s my obligation to write about cable every so often since so many of you have positions in it…
I have a confession to make: I hate cable. I’ve almost never made money in cable. My only interest in the pound is the impact that it has on ForexLive’s bottom line owing to Gerry’s gaudy salary…
I sat down with the intention of writing how the dovish MPC minutes and lousy public finances are weighing on the pound, but then I thought “that’s nonsense”. Cable, more than any currency on the face of the globe, moves in mysterious and contradictory ways. On the rare occasion it does what it “should”, guys like me get lucky in being able to ascribe a motive.
Now that I’ve gotten that off my chest, one last bit of advice. Find a less brutish currency to trade. Use a dart thrown at the Wall St Journal if you have to. You’ll be happy you did.
P.S.: I hate USD/CAD too!
