Why did cable head higher yesterday?
We're simply looking at the difference between two stimulus regimes.
With the BoE indicating that there would be a cap to stimulus, whilst the Fed earlier last week pretty much took a 'whatever it takes' stance, the longer term differential in narrative was created.
Whether that sustains is a different story, since context can change rapidly, but intraday, those comments let to higher UK yields which creates an implied appreciation in cable.
With the BoE indicating that there would be a cap to stimulus, whilst the Fed earlier last week pretty much took a 'whatever it takes' stance, the longer term differential in narrative was created.
Whether that sustains is a different story, since context can change rapidly, but intraday, those comments let to higher UK yields which creates an implied appreciation in cable.
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