Cable up +65 pips on the day
The pound is the top performer today while the US dollar lags as it retraces the big non-farm payrolls move.
What stands out isn’t that cable is the big mover today but that the bounce has been so shallow. Cable fell 450 pips last week and the bounce (at least so far) is only 65 pips. It’s not even close to the 38.2% retracement.
