Now, really, I don’t want to spoil the happy-clappy party after the constructon PMI data and, er, construction industry related people claiming the birth of a new dawn ( shock ) but to bring a bit of balance to the site I’d just like to let you know that a large Asian sovereign has been the prime seller of GBPUSD around 1.5600
Currently 1.5577
Oh, and a small-time operator based in Kent UK has picked up some EURGBP below 0.8450 for a short term punt! Andy B and Ryan will testify to that in case anyone thinks I’m being wise after the event.
I don’t deny a strong GBP- positive trend development but there’s been a lot of buying lately ahead of the Vodafone-Verizon deal announcement and I’m thinking maybe it’s all a little over-cooked.
As I often say on these occasions there’s always two-sides to the argument and opportunity for both.
It’s what makes a market after all. And I hate hyperbole ( from the market I mean, not Ryan!)
