Please can anyone help shed some light on the GPB/USD surge that started approx Nov 19 th '06. I suppose it was many currencies that gained on the dollar around this period.
Cable was 1.8850 then within 10 days or so went up to 1.9848.
Apologies in advanced if this has been discussed but I can not find sufficient data that was released to see this jump.
Is it petro dollars being diversified into to other currencies, repatriation or dollar just being oversold?
There was talks of two more interest rate hikes in BOE back then, which are more than likely going to happen due to inflation. Is this already reflected in the price?
I'm sure everyone made a small fortune trading, no matter what system you used on the price movement around this period but I would be grateful for any insight on the market movers.
Thanks for your time
P.S the GBP/USD & EUR/USD is heading only one way...... Down.
Cable was 1.8850 then within 10 days or so went up to 1.9848.
Apologies in advanced if this has been discussed but I can not find sufficient data that was released to see this jump.
Is it petro dollars being diversified into to other currencies, repatriation or dollar just being oversold?
There was talks of two more interest rate hikes in BOE back then, which are more than likely going to happen due to inflation. Is this already reflected in the price?
I'm sure everyone made a small fortune trading, no matter what system you used on the price movement around this period but I would be grateful for any insight on the market movers.
Thanks for your time
P.S the GBP/USD & EUR/USD is heading only one way...... Down.