Cable battles back to unchanged again
The theme for the past four days has been US dollar strength but when you look at the cable chart, it's hardly a blip.
The resilience of cable despite a 20-cent rally over the past year is impressive. It's a sign that the trend is intact, despite the challenges to the UK economy.
I hate to read too much into the FOMC Minutes but if the dip in the US dollar from the FOMC minutes or extends in the next 12 hours, cable is likely the best place to bet against USD.
