GBP/USD Flows Update

From Citi:

We are getting a lot of questions about what has gone on in GBP. The honest answer is we don’t really know. An UK clearer was seen flailing about in cable, while some say it was led by EURGBP. We’ve see reasonable turnover today, but it’s been contrarian for most of the session. They always say that FX is a big enough pie for everyone to get a decent meal, and it looks like someone got a bigger portion than us this time. Still, mustn’t grumble. Cable is now 1.5961, while the cross is 0.7825.

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