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Foreign Exchange

Cable: Looking forward to 2012

For the moment, Locog’s faith in the medium-to long-term equilibrium rate for cable being around 1.60 is starting to look justified.

I won’t get all chauvinistic but as a UK citizen I have to say I enjoyed watching the Olympics. Team UK’s 19-gold-medal haul is a far cry from the days when our Olympians came back with something like a solitary bronze in clay-pigeon shooting. As most of you will have seen, the cycling team contributed significantly, reinforcing my claim that cycling is the new golf. Much has been made about how other sports can learn from the way the cyclists were prepared and supported in the long run-up to the Games. And it also might  have lessons for an industry such as FX – it’s not hard to form a cohesive team from individuals.

Sticking with cycling for a brief moment, me and the City Winkers – a group of muckers made up predominantly of senior option traders – actually took part in a race with Chris Hoy. For those of you who didn’t see, soon-to-be Sir Chris won three gold medals in sprint events on the cycling track. Back in 2006, he rode the L’Etape du Tour, a 160 km “jaunt” up and down some rather large mountains in France. I’m not bragging but let’s just say he finished some considerable way behind most of us.

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