Cable looks to be leading the way higher, bouncing from 1.6135 to 1.6195 as its slide pulled up short of the key 1.6110 level. EUR/USD is bouncing as well, jumping toward 1.4660 before stalling.
We are not hearing of any specific flows just yet but “reserve management” cannot be ruled out.
Update: May be this is it– US mortgage delinquencies reach a record, according to credit ratings agency Equifax, Reuters reports. 7.58% of US mortgages are more than 30 days past due.
