EU exit would be credit negative for the UK says Moody's

Reuters carrying comments from Moody's ratings agency

• EU exit would be credit negative for the UK economy
• Agreement on terms of the UK's continued membership allows Cameron to campaign in favour of staying in
• Brexit remains a risk
• Would consider reflecting threats to UK's credit standing by assigning a negative outlook to sovereign rating following a vote to exit
• Cost of exit would outweigh the benfits

No surprise to hear these comments and they won't be the last.

Cable has held a test of 1.4100 but the bounce is weak so far. If we do get a blow through then things might start to become stretched.

And 1.4095 1.4086 trades no sooner do I hit the publish button