Cable rallies on good news; Fed speeches due later

True enough, Cable (GBP/USD) made a strong comeback on positive housing data,
and on M&A (merger & acquisitions) news that a Qatar-led group
could be in the lead to buy Thames Water after putting in a bid worth
about GBP 8 billion. The deadline for bids imposed by German group RWE
AG, which owns Thames, expired on Saturday morning. Cable has risen by
more than 120 pips today at the time of writing at 1330 GMT. As a
comparison, EUR/USD managed to rise only about 50 pips..