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GBP/USD LONGS HEIGHTEN DOWNSIDE RISKS.
Nov 02, 2021 at 07:16
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Nov 02, 2021 at 07:16
In the latest COT report, covering the week to October 26th, speculators reduced long exposure to the US Dollar for the third consecutive week as net longs fell $1.9bln. However, as I said in the prior week, the move looks to be an adjustment in positioning as opposed to a renewed downtrend in the greenback. With the Federal Reserve scheduled to taper QE purchases and Chair Powell beginning to flag inflation risks persisting longer than initially expected, the greenback is likely to retain a bid, particularly against low yielders.
Member Since Jul 20, 2020
385 posts
Nov 02, 2021 at 08:07
There is massive news coming for GBP and also USD this week. This is going to be a very volatile one i think
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