Cable?

jpwone

Well-known member
254 3
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

Junior member
35 2
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
 

DaveT

Well-known member
434 6
Well you live and learn....

Always wondered about that myself.
:|
 

MGBRoadster

Member
91 0
Thanks for the fast replies guys

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