As I wrote earlier in the week, blindly selling every rally in EUR/USD remains the most profitable strategy going. You don’t have to be particularly choosy, as long as you are willing to put a stop up above say 1.2150.
CNBC is blaming BP bankruptcy talk for the latest Wall Street weakness. On the merits, the talk is silly, but when you have the White House stepping on your throat and kicking your ass at the same time, all bets are off…
Also weighing is support for the swap-desk spin-off in the Senate finreg bill from Chairman Chris Dodd.
Traders are getting spun around like a record baby, right round, today.
