Some of the reasons cited for the full-cent rally in cable that seemingly came out of nowhere.

  • There is talk about Japanese demand for GBP/JPY
  • Chatter about GBP demand against the Scandinavian currencies
  • Options-related activities
  • More talk of Asian sellers at 1.5040/50
  • More offers at 1.5060 and 1.5080/85
  • An earlier story in the FT about Qatar investing £10 billion in UK infrastructure is getting a second look