Cable at the lows
Early back-and-forth in US equities gave way to a sharp drop and the S&P 500 is now down 22 points, or 0.75%.
Cable is increasingly a risk-sensitive currency trade and today that's led to a 26-pip drop to a session low of 1.2393.
On the daily chart, cable is consolidating in the 1.2320 to 1.2540.
