GBP Ends Week As The Strongest Currency
Ashraf Laidi | Mar 17, 2019 01:21AM ET
GBP ends another week as the strongest currency (see chart below of USD against six top currencies) and the USD as the weakest performer-- except against gold and silver.
Now that British Parliament has voted against a no-deal and in favor of extending Brexit to another three months, Brexiters face the possibility of staying in the EU for another year in the event that they reject next week's vote on PM May's withdrawal deal. Global indices are pushing higher across the board and a key factor in deciding to not open a new short in indices was the relentless rally in oil prices.
Brexit vote is on Tuesday and FOMC announcement/press conference and dot plot forecasts. From a trading perspective, 7 out of our 8 Premium trades are currently in the money, with silver being the exception. The 8 trades are in: EUR/USD, GBP/USD, USD/CHF, Gold, Silver, USOIL, Bitcoin and Ripple.
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