Cable is finding some support on weakness this morning with a European central bank rumored to picking up a few cheapies on the dips. Dealers see no policy implications in the buying, assuming its “commercial” in nature. Central banks usually act as the banker for governments as they make their intergovernmental payments, etc. Cable trades now at 1.7615, more than 3 cents below intraday highs after the knee-jerk jump in carry trades after the Fannie/Freddie resolution.