Cable
a.k.a. GBP/USD
Trader slang for the GBP/USD pair, from the transatlantic telegraph cable that once carried its price.
In plain English
Trader slang for the GBP/USD pair, from the transatlantic telegraph cable that once carried its price.
Ask a dealer for a price in cable and you will get GBP/USD. From the 1860s, the exchange rate between London and New York was sent along a telegraph cable laid on the Atlantic seabed, and the nickname stuck.
Cable is one of the most traded major pairs, known for punchy moves around UK news and Bank of England decisions.
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