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Sterling - Cable?

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johnw4 | 14:19 Sat 08th Apr 2006 | Business & Finance
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Why is the Pound Sterling also called 'Cable' in financial circles?

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Avatar Image Ethel
As far as I know, it isn't!

K is equivalent to 1,000 and so �20000 may be referred to as 20k, could this be what you are thinking of?
14:57 Sat 08th Apr 2006
Avatar Image El D
Cable is actually the tag for the $/� exchange - I believe it simply stems from when information was exchanged via an Atlantic cable.
13:27 Sun 09th Apr 2006
Avatar Image billk

the cable was laid from the UK to the USA that is also why cable is referred to as GBP so to buy or sell cable is to buy or sell GBP against USD

14:58 Mon 05th Jun 2006

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