As I reported in my orderboard post earlier
There’s been some decent selling this morning after the release of the latest YouGov poll for the Scottish referendum puts the No vote at 53% and Yes at 47% with the gap narrowing to 6 points vs 14 points a month ago and thus adding to the potential uncertainty over using the pound.
The figures/gap are the same as a Survation poll taken for the Scottish Daily Mail last Friday after Salmond’s better performance in last week’s tv debate and, with all polls, takes a tiny part of the electorate
As always markets will look for excuses for what it wants to justify moves but that’s the buzz out there at the moment ahead of the latest construction PMI release at the bottom of the hour. Various banks, including a UK clearer are apparently telling their clients to sell
It’s moves/scenarios like this that convince me I never want to be caught long on cable. I can always bide my time to sell again or ride rallies but never comfortable being long. I’m sure you bulls will be happy to pick up down here though, as I am to t/p, and that make sense especially considering we were 90 pips higher yesterday ahead of the poor CPI
Currently back up to 1.6567 from 1.6554 lows ahead of the decent bids at 1.6350 that I highlighted.
