These rumors often turn out to be very self-serving, so take with a grain of salt, but we hear there is large demand for the pound at the upcoming 16:00 GMT fixing. Seeing as cable is already almost 200 pips above session lows in the last few hours, buying on that rumor seems a bit tenuous.
Cable has dipped to 1.4760 from 1.4777 intraday highs. A UK clearing bank has been a rumored steady buyer during the London afternoon.
EUR/GBP has fallen to 0.8990, triggering lots of stops along the way. The pair is now 0.8998.
