There is a particularly strong bid in cable in the past hour or so as the US dollar slumps.
It’s not clear what’s behind the move as there are no obvious headlines. We’re starting to see some selling in US equities and broadly in the US dollar. Oil prices are now down on the day and that could have the market thinking that the Fed will have more space to cut.
Between the trade war with China and US government shutdown, there are some negative risks to the US dollar that aren’t evident in Europe and the UK.
This article was written by Adam Button at investinglive.com.