An Asian Sovereign name is on the offer in cable between 1.6640/80. Their modus operandi is to sell 100/200 million every 10 or 20 pips, depending on how much they have to do. No confirmation as yet that the Middle Eastern offers are still live, but they were around the same level. We will probably find out during this session.
In answer to one question posed in the overnight comments, there is absolutely no guarantee that these kind of offers will stop the market going higher- they might merely slow it down.
Good luck today and TGIF.
