Cable marches higher
The US dollar has been on the back foot since the U Mich consumer sentiment numbers were released and that's given a second wind to the cable trade.
The gains have boosted the pair through the 55-day moving average.
That metric hasn't been much of an indicator in the past few months.
The gain today also clears the 61.8% retracement of the Nov 2 tumble. A full retracement would threaten the double top at roughly 1.3310.
The trigger for the latest round of gains was a report suggesting there was a path where May could pay more (perhaps double) to the EU on the exit bill but get a better trade deal as a result.
That's a narrative to watch in the day ahead.
