Cable ignores the polls and rips through the fix

Month end boosts GBP

A broadly weaker US dollar has helped to boost cable but fixing demand has driven the last leg of gains up through 1.2900 to a session high of 1.2921.

It"s an impressive turnaround from a low of 1.2769 at the start of London trading. The lows came after a YouGov model showed Theresa May"s Conservatives losing 20 seats and losing their majority.

Markets are having second thoughts about the veracity of that poll.

I think the cable trade ends up similar to the French election. Jitters will keep it depressed and it will spring higher afterwards.

Cable ignores the polls and rips through the fix
Cable ignores the polls and rips through the fix
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