Cable marginally easier as PBR comes and goes

Cable is trading a little easier, down at 1.6245 from a North American close Wednesday around 1.6260.

The pre budget report came and went. From what I could see it was a political exercise, formulated to do as little harm to Labour’s election chances as possible and not addressing any of the real problems.

Next up today Bank of England rate decision. No change expected in interest rates and QE, expected to be maintained at 0.5% and £200 bln respectively.

Supports next for cable at 1.6210 and 1.6155, resistance 1.6320/25.