Phriday Photo VII

There's something deligthfully 'Aardman Animations' about today's Phriday Photo. I can't put my finger on exactly what - maybe the straight-faced comedy of the moment. I hope Wallace & Gromit wouldn't be offended.

I wonder if anything else was put on back-to-front this morning...

p.s. A vain hope, but yesterday's Sterling comments just for Patsou, on the micro-chance that it prompts her nostalgic return to the market ;-)

"GBP: Pound Extends Gains Against Crumbling Euro..But The Reason Lies Elsewhere

It wasn't that long ago that the only thing on a cable trader's radar other than cable was his bar bill at the Brasserie Roque. Nowadays you can't hit a price before checking the recent price action in EURUSD, EURGBP, EURYEN, XAU, WTI, Treasuries, S&P, CDOs and your astrology chart. Today we sat glued to the numbers not on Reuters or Bloomberg, but on Yahoo Finance, which streams the live Lehman Brothers stock price. That was lower, which meant the S&P was lower, which meant that EURYEN was getting sold, which meant EURUSD and XAU were offered and so EURGBP went down. And so did WTI for that matter. Cable actually showed some reluctance to stay too long below 1.7500, which meant EURGBP really took the strain. Some early two-way action in the 0.7950-75 area preceded a plunge through 0.7950 to test below0.7925. As soon as I know whether Venus rising is good or bad for Lehmans Brothers I'll let you know where the pound is going next."