Euro down .. GBP still has upside bias vs. the Dollar ..
Every time Trichet opens his mouth he kills the Euro.. Even when he's supposed to be helping the Euro with his speeches he kills it.. I'd short a few minutes before his conference.
EUR/GBP should get hammered as Britons repatriate funds and give Cable a boost.. Soon I predict GB will be asking Trichet if they want to join the Pound .. Fixing to work on tech analysis .. Will be back in an hour or so..
Ridd,
Unfortunately, I like too many Heineken's at the same time..
Looks like long USD vs. everything except JPY next week.. Cable might survive and stay in the 1.50s.. Trichet has already made comment to the effect that interest rates will be lowered in the EZ so shorting Euros is a pretty safe bet.. Canadian dollars were fashionable last week but they're quite simply vastly overvalued vs. the USD and could come down hard.. Australian dollars are showing signs of wanting to tank as well..
JPY will be king next week..
followed by USD
then GBP
then EUR
then commodity currencies
third-world currencies have no hope in 2009.. do not invest in them..
Euro is up but it is only a gift from God to short at a higher price...
I've heard rumors of large sell orders below 1.51 on in GBP/USD