Forex rebates on every trade - win or lose!

Ladies, I beg to differ: I'm consuming the Shiraz-Cabernet. Oh, and the $2 thing too.

Hils have to agree. I was about to post the very same thing.

Up until yesterday despite my best LONG efforts it really was a seell into strength market....

Now its a push down to get rid of those shorts and establish longs...
Given the hawkish MPC..or at least one that has such a narrow decision making mandate I feel that $2 is now back on the cards,
or at least we will close the gap between here and $2 quite significantly. 1.9450 the area to stay above.

Incidently I have always felt that the rules that let the MPC reduce rates so much
in the last few years will force it to do the opposite on the way up..Yesterday saw
some validity in that arguement.

Problem is, D, that the greenback is itself very strong atm what with lower oil prices and the silencing of the doves. It's already gained around 2% this week against the Yen and has also gained against the Euro. That's negating the strength in sterling.

Choccy,

You only just started the Merlot at 8:38pm??????? You need to get a life! Has nobody ever told you that Happy Hour starts at 6pm?

:o)

Hil: Yea but . . . the USD/YEN is carry trade, surely, and not a measure of greenback strength per se -- same as with the Swissie. No? Fun being a reserve currency again, though . . . ;-)

MM,

Sorry to confuse. Reference the "D", I was actually replying to Foale's post 7108.

BoJ rate talk been giving the Yen a bit of strength this am, although the Dollar's coming back against it now. The Yen makes up for about 13% of the Dollar Index. Apart from the Loonie, the rest of the index comprises Europeans with the Euro itself accounting for 57%.

Does anyone trade dollar index? A few US chums of mine do but as I only spreadbet and only quote I've seen is ridiculous 18 ticks it doesn't compare with one tick on Euro.

Hi y'all, hope you all had an excellent festive season. Back in spain after a couple of hectic months. Trying to get back into the swing of the markets, $2 beckoning?

Harlosh hope your health scare nothing too serious, had a heart scare myself a year ago.

I think we should have a MoneyAM sweepstake on where it's going to stop. MM's offering his tin hat and commode to the winner.

I bags $2.40 as a revised target. I think MM wants $1.30. Anyone else?

:o)

H. no confusion here.. D.

btw nice pie...

Just thought my mentor Hils would appreciate knowing I'm currently about 140 points in profit, stop sitting at 100 points so will wait and see what happens next week.

Hil: While I admit that $1.30 would suit my book, I have to be realistic and content myself with dreams of $1.85.

BTW, Hil, do you have a Manchester weather feed for Chocopops?

How about this?

Goforit,

It was a serious scare but I think scare is over despite the symptoms persisting thanks. Welcome back too.

Sorry to hear about your health scare Harlosh, it seems to be the season
for it.

Had some trouble with Mrs. Mel over Christmas. Went to Hospital twice.
They operated this week and everything seems ok again.
Hope to get back to some trading and chart/view posting again, shortly.
Depends how soon Mrs. Mel stops looking like a ghost and I can ditch
the nurse outfit, (those black woolly tights are dead itchy) :-)

Miss Mel might be getting one of her investment bank interviews, next week,
so fingers crossed that she doesn't screw it up.

Hopefully back soon. Catch you later.

Thanks Mel and I hope Mrs Mel gets well soon too. It really does seem to be the season for it.

"The US Federal Reserve will need to slash interest rates three times this year as the housing slump goes from bad to worse and the American consumer begins to buckle, Goldman Sachs has warned."

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/01/15/bcngold115.xml

[14:56 NEWS: BoE To Publish King Letter at 10:30GMT if CPI Above 3.0%] If
annualized UK December CPI comes in above 3.0% at 09:30GMT tomorrow, the BoE
will publish Governor Mervyn King"s open letter of explanation to Chancellor
Gordon Brown at 10:30GMT (Reuters).
Should such a letter be necessary, King will have to explain why CPI has moved
over 1.0% from its 2.0% target level. He would also have to detail the policy
action he is taking to deal with it, state how long it is likely to take for CPI
to return to target, and say how the BoE approach meets the government"s
monetary policy objectives (FT, p3).

[15:42 FX OPTIONS: GBP/USD Risk Reversals Favour GBP Calls] London, January 15.
Risk reversals hold a topside strike premium across the curve, with 1-mth 25
delta R/R 0.15/0.35 GBP calls over last. The 3-mth 25 delta R/R is currently
0.2/0.4 GBP calls over. The 1-year 25 delta R/R is presently 0.35/0.5 GBP calls
over.
On the exotic front: barriers reside up at 1.9900 and 2.0000, with a further
batch of triggers located above 2.0000. Sterling scaled a 14-year peak of 1.9849
at the start of last month (Dec 1).

[16:17 FX OPTIONS: GBP/USD Another 1.9650 Expiry Tomorrow] London, January 15.
Another 1.9650 option strike rolls off at tomorrow"s 10am EST NY cut (Tuesday,
15:00GMT), to follow today"s 1.9650 expiry.
This week"s key UK event risk is tomorrow"s 09:30GMT disclosure of December
inflation figures (See 2339 ).

Well done with the trade, Seymour. Please try not to let them spook you.

Welcome back Harlosh & Mel.

Good to see this thread come alive again. Currently about +200... Stop locked in at +157.

My view varies slightly from yours, Hils, in that there could be more upside to above 87 - but then the downside should easily take out 2005's low.



Nice to see the boys are back in town.
Well, almost all - all we need now is the mega motu :)