Cable?

[MGBRoadster]

Working on the theory that the only stupid question is the one you didn't ask:

Why is GBP called "cable" ?

 

[jpwone]

Cable is the spot GBP versus US dollar price.

In the not too distant past the prices quoted were obtained off the one and only transatlantic telephone/telegraph link (landed in Cornwall). Hence 'Get a price off the cable for GBP/USD' became abbreviated to 'cable'. The dealer would call out 'cable' and the telegraph operator would know what was meant.

 

[mheitkoe]

Hello,

Trader jargon referring to the Sterling/US Dollar exchange rate. So called because the rate was originally transmitted via a transatlantic cable beginning in the mid 1800's.

Hope this helps.
Mike

 

[ilia king]

http://www.fxsol.com/forex-basics/forex_glossary.fx
http://www.fxadvantage.com/learn_glossary.html

 

[DaveT]

Well you live and learn....

Always wondered about that myself.
:|

 

[MGBRoadster]

Thanks for the fast replies guys

(although I really think you all should have something better to do on a Saturday afternoon LOL)

 

[ilia king]

Thanks for the fast replies guys

(although I really think you all should have something better to do on a Saturday afternoon LOL)

LOL