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EURUSD TECHS

Needle Still Points South

COMMODITIES

Oil Holds Close to Highs, Recovery Secured

OPTIONS

EUROPE SUMMARY: Vol Trades En Vogue Post-ECB

CABLE
CABLE: GBP/USD weakness fails to abate with the pair now over 40 pips lower than
the Asia high. Yesterday's lows are the immediate level to look out for
($1.3523) which, if broken, could open up a move toward hourly support at
$1.3515 before the Jan4 low at $1.3507. The move isn't contained to FX, with UK
Gilt markets also underperforming their German counterpart: the Gilt/Bund yield
spread is wider by 0.7bps at the time of writing.