It sure looks like a sell risk on rally market to me at the moment. S&P’s being a perfect example of this, having bounced to be 6 points up on the day we’re now back in negative territory. Eur/Usd is edging closer to suspected bids at 1.4200, now trading at 1.4215. A mini rally in Sterling has occured, partly due to the disappointing Gilt buyback. Eur/Gbp has moved back below 0.8800 to 0.8765 and Cable has risen from 1.6160 to 1.6225.