Cable higher on optimism about Spanish bailout

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Source: Reuters

On Friday, the Cable was traded higher versus the U.S. Dollar, amid the stronger Euro. However, concerns about the U.K. economy weigh, and the Sterling underperformed other currencies that are perceived to be riskier. GBP/USD hit a session high of 1.6071 and a session low of 1.6020, subsequently consolidating at 1.6066 by 12:17 a.m. London time.

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On Friday, Spanish bonds were gaining, amid speculation that the country will soon ask for bailout, which will trigger ECB's bond buying program. The yield on benchmark 10-year notes fell by 7 basis points, reaching 5.69% by 11 a.m. in London. 2-year bonds declined 10 basis points, having the yield of 3.11%.

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