Archived IMT (2009.06.29)

The pound joins all other risk currencies in rallying vs USD and JPY, shrugging news of the smallest mortgage lending in history. Lending to businesses also dwindled, supporting claims by some bank CEOs instructing their lending officers simply not to lend. Forex risk appetite responded to a broad yet ultra-volume run-up in equities, but remains unable to break key resistance levels ahead of Thursday's US payrolls. just as SP500 has failed to close above the 930 right shoulder, cable has yet to close above 1.66.