Cable steadies.

Cable has steadied after the earlier sharp sell off, edging up to 1.7860 at writing. The release of a weaker than expected jobs report had no real impact. At the end of the day who really doesn’t expect U.K. unemployment to head higher and quite possibly at a rather nasty rate of knots. The parlous jobs outlook is probably already discounted somewhat in the current cable rate. The pairing will no doubt be garnering support from the news that HBOS has found a White Knight.