Cable slumps despite hawkish talk from Miles

Hawkish comments from Miles no match for USD buying

The US dollar is in demand on hawkish comments from Lockhart and worries about Yemen.

Miles brushed aside low inflation and said rate hikes are more likely than cuts but cable has slumped anyway, falling to 1.4869 from 1.4880.

The declines threaten an intraday series of higher lows and a test of the Asia-Pacific low of 1.4831. There is buying demand at 1.4825/20, more at 1.4805/00 -- all said to be solid.