Cable trying to steady in early European trade

Cable having opened lower, is trying to steady in early European trade. Heightened risk aversion overnight in Asia has hurt cable, while budgeoning government spending and how it’s going to be funded remains a big negative overhanging sterling. Comments made by George Soros inThe Times won’t have helped matters.

Sources however do note some buy orders lined up at 1.4170 down through 1.4150 and they’ve so far managed to soak up the selling interest this morning