It has been a good few days of consolidation, as dollar strength is sold into and vice versa with no real commitment either way. Classic range trading, trend remains down and all we need is a catalyst.
Nothing seems to have changed much; EUR is still weighed down by debt concerns, GBP is heavy as the MPC seems more and more reluctant to hike rates with fears of stagflation floating around, and the bozos in the US play chicken as the country's finances head towards a steep cliff. At least we have official figures showing Japan in a technical recession (you mean it's not a 'real' recession?), and we finally see more commitment from JPY sellers; although nobody's really surprised by the news.
Speakers and data galore again today, with UK retail sales expected out stronger in a bit, just surprised there's no rumour or leak yet.
Will be looking to buy dollars when an opportunity presents itself, although the thought itself is midly disgusting; buying the currency of a country so blase about debt. Oh well, beggars can't be choosers.
Oh wait. There is a rumour re: UK retail sales; much weaker, hence the GBP sell-off. Recently these rumours seem to be propagated by those with interests on the opposite side, as opposed to last month when they seemed more like leaks. We shall see.
Oh wait. There is a rumour re: UK retail sales; much weaker, hence the GBP sell-off. Recently these rumours seem to be propagated by those with interests on the opposite side, as opposed to last month when they seemed more like leaks. We shall see.
Peace.
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