Cable is mounting yet another rally. The pairing continues to see good demand emerge on approaches of the psychological 1.5000 line. On this most recent sell-off we got down to 1.5032.
Still feel QE isn’t as big a negative as a lot of people think, but that’s by the by.
To move on; one thing which may lend cable some underpinning is the proximity of tomorrows US jobs report.
There has been decent improvement in some recent US data and it wouldn’t be surprising to see the jobs data come in a fair bit better than expected.
Would give risk sentiment a nice boost. Currently seems median forcast for non-farm payrolls is around -600k . Just a thought.