The slang term “trading the cable” is used by forex traders to refer to an exchange between British pounds and U.S. dollars. The word cable may refer to the exchange rate between the pound and the dollar, and may also simply refer to the British pound.
Key Takeaways
When the currency pair is the British pound and the U.S. dollar, the exchange may be called “trading the cable.”The British pound is sometimes known as “the cable,” but only when it is paired with the U.S. dollar.The slang dates from the days of the transatlantic cable …
