Cable (GBP/USD) today is up around 1.5 points, trading at 1.9770 just now. I just sold some Jun '08 at 1.9643, in just under $1,000 per big figure.
At the same time, I just sold a 1.98 Put and Call, expiring Feb 1st, for 1.674 points and 1.245 points respectively, so a total of 2.919 points.
If the pound falls, as I expect it to do over the medium-term, I book a nearly 3 points profit. If the pound rises, I'm comfortable selling more of it...note that on the straddle I lose money above about 2.0050.
Newsflow out of the US is horrible just now, maybe if it quietens down for a while we can get back to focusing on the impending UK crash.