Risk trades continue to grind lower, but the path to lower levels has been of the three steps down, two steps up variety. So overnight in Asia and Europe, we approached or even posted new lows for the week in the pro-risk currencies vs. the USD and the JPY, only

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Back and Forth We Go – Will Volatility Continue to Wilt?

The pair has finally pushed through its Oct 13’09 low/range lows at 1.5706, breaking out of its broader sideways range and putting GBP on the path to further downside weakness towards the 1.5276 level, its .50 Fib Ret(1.3501-1.7041 rally). GBP has been trapped in large range between the 1.7041 and…

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GBPUSD: Out Of Sideways Range With Prospect For 1.5276

Our Federal Reserve has chosen to leave interest rates unchanged again as the path to US recovery is still dependent (perhaps psychologically) on cheap money. But yesterday’s monetary policy announcement reveals that there is now a lone dissenter who’s not happy with the current rate policy.

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The STATE of the DOLLAR and the Black Swan Response