Forex rebates on every trade - win or lose!

Thanks Hilary. What happened there. Still 5 mis to Michegan?

It's obviously not waiting for Michigan after all.

:o)

13:44 GBP/USD: Trips Stops Below 1.8800 & 1.8780, Large 1.8750 Expiry] London,
September 15. Sterling has tripped stops below 1.8800 and 1.8780 en route to an
intra-day low of 1.8763, amid speculation that September"s preliminary Michigan
sentiment index may come in much better-than-expected. Consensus forecast: 84.0.

More stops reportedly reside below 1.8760. These could further depress cable
to/through 1.8750. An estimated GBP 350mn 1.8750 option strike rolls off at
today"s 10am EST NY cut (14:00GMT). 1.8710 (Wednesday"s low) is a bear target
south of 1.8750.

Thanks for that Hilary.

My short is doing well and I have a target of 8685 if it ever gets there - probably monday now but I won't be here :-(

I noticed this thread is falling off the main page...

"How very dare you"... LOL


Eur/ Usd trying to impersonate a straight line..

All very quiet on the cable coal face too.

I guess everyone's waiting for the FOMC later but then again no change is expected.

So expect more straight line stuff.

It's always like this ahead of the Fed. Its still a long though for now, imo.

Wow. It woke up all of a sudden.

What a beautiful mover :o)

That horizontal line has suddenly decided to be vertical!

And it's so much prettier than fiber.

Teach me to have some time off before FOMC. :-(

Oh 'eck, Harlosh - were you still short from Friday?

No no Choc. Just missed an opportunity today that's all :-)

Phew
That's ok then :)

2 hours to fireworks then.
Maybe ;)

Rate held as expected but cable's gone ape s**t

Oooops. Forgot all about the Fed as I was just getting ready to go out.

Here's the statement in case nobody's seen it.

[18:17 US ECON: FOMC Statement] Boston, September 20, 2006
The Federal Open Market Committee decided today to keep its target for the
federal funds rate at 5-1/4 percent.
The moderation in economic growth appears to be continuing, partly
reflecting a cooling of the housing market.
Readings on core inflation have been elevated, and the high levels of
resource utilization and of the prices of energy and other commodities have the
potential to sustain inflation pressures. However, inflation pressures seem
likely to moderate over time, reflecting reduced impetus from energy prices,
contained inflation expectations, and the cumulative effects of monetary policy
actions and other factors restraining aggregate demand.
Nonetheless, the Committee judges that some inflation risks remain. The
extent and timing of any additional firming that may be needed to address these
risks will depend on the evolution of the outlook for both inflation and
economic growth, as implied by incoming information.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman;
Timothy F. Geithner, Vice Chairman; Susan S. Bies; Jack Guynn; Donald L. Kohn;
Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; Kevin M. Warsh; and
Janet L. Yellen. Voting against was Jeffrey M. Lacker, who preferred an increase
of 25 basis points in the federal funds rate target at this meeting.
Source: Federal Reserve

[18:15 US FED: Lacker Dissents Again, Fed Leaves Rates Unchanged] Boston,
September 20. Perhaps one of the only surprises to the FOMC statement is the
second dissent from Richmond Fed's Lacker. Nevertheless, policy was unchanged
at 5.25% and the inflation risk language was maintained.
The cooling in the housing market was no longer described as "gradual" and
energy prices, despite large declines in September, were deemed threatening to
the inflation outlook. -- Jeoff.Hall@thomson.com

thanks Hilary