Dollar bashing has driven the U.S. dollar to an 11 month low against the Euro and 1 year low against the Australian dollar. If you have caught my interviews on CNBC and Bloomberg, you would know that I have been bearish dollars and bullish Aussies and Euro for the past 2 months. Now [...]

Posted in 2009 eurusd forecasts, 2009 us dollar forecast, Bank of England, British Pound, Gold, dollar record low, eur/usd, forex blog No Comments »

For the past four trading days, the British pound has been stuck in a 200 pip range against the U.S. dollar and a 115 pip range against the Euro. However the bottom of the range in both the GBP/USD and EUR/USD have been broken, leading currency traders to wonder if the larger range will be [...]

Posted in 2009 british pound forecast, Bank of England, British Pound, Forex Technicals, GBPJPY, forex blog, gbpusd 3 Comments »

**Update on 6/30/09 at 1:30pm - GBP/JPY hit an intraday high of 160.27, hopefully you were able to bank some pips on this trade. The reversal candle that we have right now suggests that we could see a deeper pullback to 156.
We have a nice upside breakout in GBP/JPY this morning that has been [...]

Posted in 2009 gbpusd forecast, British Pound, GBPJPY, forex blog 5 Comments »

The British pound has been on a tear lately and part of the reason are the signs of recovery in the housing market. The following chart illustrates the close correlation between the trade weighted value of the GBP (white line) and the HBOS house price index (red line). The sharp increase in the [...]

Posted in British Pound, forex blog 2 Comments »

Many people have criticized the U.K. government’s response to the financial crisis and recession but U.K. officials may be having the last laugh. The latest string of economic data has been surprisingly strong. There are signs of stabilization in both the housing and labor markets. Last week, the Bank of England increased the [...]

Posted in 2009 british pound forecast, British Pound, Forex Technicals, forex blog No Comments »