Glossary Term

Cable

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In forex trading, Cable is the nickname used by traders to refer to the pound sterling/US dollar currency pair. The name refers to a time when the British Pound was the world’s most traded currency. At the time there was a transatlantic telegraph cable laid under the sea to connect London and New York, allowing for communication and a more accurate setting of exchange rates. It is still used to refer to the GBP/USD currency pair but also to GBP on its own. Great Britain’s dominance waned after the first and second World Wars. Today GBP is the world’s 4th most traded currency.

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