It's like a magnet
Cable is at the lows of the day, just above 1.3000.
The coronavirus numbers are rising rapidly in the UK now with 373 cases, up 100 from yesterday. The UK economy is particularly service-oriented and London is a major travel hub that relies on high levels of close-contact to move people in the tube.
If the UK is forced to take the kinds of measures that Italy and Spain have taken, the economic toll will be severe.
I think today's drop in the pound is more about the ebb and flow of GBP trading than any domestic news but technically, the failure and reversal at 1.3200 is a negative sign.
