Cable was knocked off its 1.2700+ perch...

Somehow, the Pound finds itself propped at the top of the G10 table after another roller-coaster ride comprising several humps and bumps over the course of Wednesday’s EU session. Cable was knocked off its 1.2700+ perch and Eur/Gbp revisited Monday’s 0.9220 or so high following UK Foreign Minister Raab’s contention that PM Johnson’s tighter COVID-19 containment measures aren’t sufficient to prevent a 2nd wave and/or return to complete lockdown, but Sterling recouped some losses on the back of flash PMIs that were narrowly mixed against consensus, as the services sector remained comfortably above the key 50.0 threshold in stark contrast to French, German and pan Eurozone equivalents. However, Cable and the cross subsequently reversed all and more of their Raab moves when head of the EU’s Brexit negotiating team, Barnier, declared determination to reach a trade pact with Britain and Chancellor Sunak announced that he will address Parliament about job protection measures tomorrow at 12.30BST.