- Cable (foreign exchange)
Cable is a foreign exchange term used for the
GBP/ USD currency pairrate ( British Poundvs. the US Dollar). It derives its name from the Transatlantic Cable, a steel cable laid under the Atlantic Ocean in 1858, telegraphically linking the UKwith the USA, enabling messages with currency prices to be transmitted between the Londonand New YorkExchanges. Fibre opticcables and satelliteshave now taken over for both local and international communications, but the nickname has remained in the foreign exchange sector.
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