What Is Cable?

Cable television is a slang term for the exchange rate between the U.S. dollar (USD) and the British pound sterling (GBP). The term is used amongst forex traders and can also describe the British pound sterling. “Cable television” originates from the early telegraph cables that were laid in between London and New York City that were utilized to interact currency quotes and other information.

Understanding the Cable

Cable only describes the British pound with reference to its trading against the dollar, generally estimated as GBP/USD.

Quotes versus other currencies such as the euro or the Japanese yen describe the pound as sterling (not cable television), as in “I require a cost in sterling/yen” or, “I believe euro/sterling will rebound from its existing lows.”

The currency code for the pound is GBP, which means Great Britain pound. You may hear somebody dealing in the forex market state, “Cable is up today” or, “Cable has been trending lower lately.” The sign for the British pound is ₤.

This term cable television supposedly originates from the arrival of the telegraph in the mid-19th century. The pound was the dominant currency at the time, and transactions between the pound and dollar were performed via transatlantic cable. Forex traders were sometimes referred to as “cable dealers”, although this phrase is no longer commonly utilized.

Why is the GBP/USD Currency Set Known as Trading the Cable?

The slang term “trading the cable television” is used by forex traders to refer to an exchange between British pounds and U.S. dollars. The word “cable” might describe the currency exchange rate in between the pound and the dollar, and may also just describe the British pound.

Cable Lingo

The phrase “trading the cable” has its origins in the mid-19th century when transatlantic telegraph service reinvented worldwide interactions. Messages in between New York and London might be transmitted by a physical cable television that extended across the ocean floor in between the two countries.

Since that time, the exchange rate in between the British pound and the U.S. dollar has actually been referred to as the cable. The British pound/U. S.dollar currency pair continues to be one of the most widely-traded currency pairs on the planet.

The British pound is typically referred to by its basic abbreviation, GBP, as the dollar is described as USD. The pound might be called the cable only when it is coupled with the USD, not with any other currency.

Modern Times

The forex, or forex, is now a worldwide market for the exchange of nearly all worldwide currencies. It has no headquarters or main location.

Currency deals are conducted electronically in between traders worldwide, 24 hour a day. Most individuals in this market are investment banks or commercial banks, along with some private currency traders.

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Cable is a slang term for the exchange rate in between the U.S. dollar (USD) and the British pound sterling (GBP). “Cable” comes from the early telegraph cables that were laid in between London and New York that were utilized to interact currency quotes and other data.

The pound was the dominant currency at the time, and deals between the pound and dollar were executed via transatlantic cable television. Forex traders were in some cases referred to as “cable”, although this expression is no longer typically used.

Since that time, the exchange rate between the British pound and the U.S. dollar has actually been referred to as the cable.

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