US trading desks are just ramping up for the week but it’s already been a wild ride. The ranges are unusually large, right across the market, although the changes on the day aren’t unusually large.
The laggard so far is the pound sterling and low so far in cable is 1.5649 after trading as high as 1.5747 at the start of European trading. M&A is one catalyst.
The orderboard shows bids at 1.5645 with more at 1.5615/20, 1.5600-05 and 1.5580-85 with stops below.
