Cable is back above the 1.6000 level, a somewhat surprising result given the political turmoil in the UK in recent days. Perhaps the potential inflow back to the UK of the proceeds of Barclays Sale of its BGI unit are beginning to have an impact. Upwards of GBP 6 bln could be headed back across the pond unless Barclays finances the sale itself (so-called “vendor financing”). 1.6040 is next resistance for cable which is now at 1.6018.
Cable sees nice rebound; M&A;impact?
Source: www.forexlive.com
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