US ($) Currency Thread 2

inspector_monkfish

[13:27 GBP/USD: Within Striking Distance of 1.6060 Option Expiry] London, July 8.

Cable is currently trading within striking distance of today"s 1.6060 NY option
cut expiry, against a big-picture backdrop of loss consolidation (1.6745 was the
eight-month peak scaled eight days ago). Risk aversion is helping weigh on the
pound--with 1.6046 marking the fresh four-week low plumbed in early European
trade, after the Nikkei closed down 2.35% at a six-week low of 9,420. The Dow
closed down 1.94% at a 10-week low of 8,163 yesterday. Dow futures are currently down 1 point.

There is talk that a GBP/USD option barrier is attached to the 1.6000 level,
so some option-related demand might emerge ahead of the figure if it is
threatened. 1.5985 was the June 9 low. 1.5803 was the June 8 low.

This week"s key UK event risk is tomorrow"s 11:00GMT BoE monetary policy
announcement. The consensus expectation is that the BoE will up the size of its
QE APP by GBP 25bn to GBP 150bn. The APP was upped by GBP 50bn to its current GBP 125bn level in May, after being launched with GBP 75bn in March (alongside a 50bp Bank Rate cut to 0.5%).

inspector_monkfish

1.6115 trading

jonnywells

Well i have brought £500 with of $ at CCE @ 1.65 today for delivery 1st Oct for trip to Vegas......im thinking i might buy some more as i will in total be looking to take around 2-2.5k with me and the rate seems to be taking a battering at the moment

inspector_monkfish

1.6050 trading

inspector_monkfish

1.6017 trading :eek:

inspector_monkfish

1.5995 trading

sturll

inspector_monkfish wrote: »

1.5995 trading

I should be a currency guru.

About 4 weeks ago i predicted this.

From now on, every time i go on holiday ill post the dates. That way everyone knows to their currency well before i go or just after i have gone.

neilbond007

sturll wrote: »

I should be a currency guru.

About 4 weeks ago i predicted this.

From now on, every time i go on holiday ill post the dates. That way everyone knows to their currency well before i go or just after i have gone.

Well if you're so f'kin smart I'm sure you bought at the peak of the rate?

kefrif

Well, we seem to be drooping a bit, don't we? - The rate, I mean - not something else.

Between you, me and the rest of the world, I'm gonna hang on my gut instinct prediction of hanging around the 1.60-1.65 mark. The BOE minutes will likely send the rate back up into the mid 1.62 - 1.64 area, where it'll bounce around not doing too much until getting on for the end of the year, with occasional fluctuations based on market risk events. Predictions based on nothin' other than my gut instinct though, you understand...

neilbond007

back up to the high 1.60's.
not great.. but better than a couple of hours ago!