No reprieve for the pound as dollar strength also exacerbates the drop in cable as we start European morning trade
Cable is being pushed just below 1.3300 now as the 61.8 retracement level of the swing higher this month at 1.3322 has been breached, leaving little support in the pair through to 1.3200 by the look of things currently.
The pound has its own woes amid Brexit and the mutated virus strain rampaging across the UK, causing tighter restrictions and travel bans, but the dollar itself is seeing a modest pullback after a heavy decline in recent weeks.
Again, while risk aversion may be part and parcel of that reason, it is also year-end and Christmas week, so positioning adjustments are a factor to consider as well.
AUD/USD is also down by 1% to 0.7538 currently, trading to session lows.
