Forex rebates on every trade - win or lose!

Agreed Hil, I think that the way the pound has been weakening for a while now means a lot of these fears are already in the price. I'd expect it to go lower yet, though.

Agreed, Floss. It's got some big hurdles to overcome yet.

POUND COULD COLLAPSE WITHIN WEEKS, PREDICTS BILLIONAIRE FINANCIER JIM ROGERS

The UK Pound is on the brink of a collapse which will herald a downturn worse than 2008/9, it could well happen within weeks and the British government is powerless to prevent it. And this in turn will foreshadow a global economic winter that could come before the end of 2010 and make the last two years seem like a mild spring day.

Other currencies arent strong and the Euro has real problems, with cracks much wider than Greece beginning to show, Rogers continues, but its the Pound thats most vulnerable. In real terms, its already devalued against virtually every currency barring the Zimbabwean dollar and its especially exposed over the weeks running up to the UK election. In a basket of currencies, the Pound is potentially a basket case. And that will put Britain in an extremely bad position for the shakedown.

By the end of the day would be nice :-)

its getting there

lol , market took the "good" news well.

From Jamie:

Prudential PLC is in talks to buy AIG’s Asian business for as much as $25 bln. That would likely result in large cable sales to fund the transaction.

It also makes one wonder whether this week’s Cable weakness was the investment bankers on the deal getting a head start…

Anyone trade inside days (EURGBP) ?

Hil: Edmund Conway of the Telegraph went for hung Parliament fears - I challenged him as I thought it had a lot to do with the Pru's folly - which brought this reply "@MightyMicro ur right: that was a factor - thanks 4 the pointer. though i don't think Pru was sole reason, and credibility concerns remain" via Twitter, the medium du jour.

DelBoy,

I will always argue that it was neither the Pru nor the hung parliament fears that caused the sell off. Instead, I will invariably say that the sell off was already in the chart. The chart said to me that sterling was due a massive sell off in advance of those stories and, lo and behold, it sold. Indeed, a number of BSDs had pointed to sterling's parlous position in recent weeks, vis-a-vis some previous posts on this thread.

Imho, the news itself is a mere catalyst. As it happens, on Monday the commentators were blaming both stories. They started with the Pru and then moved to election jitters. Commentators sell news and it's their job to find explanations and reasons for these things. When sterling retraced on Tuesday and Wednesday, the retracement was then being put down to "fears that the AIA acquisition might fail, in which case the Pru might be hedging their $25 bln". Utter bollox of course, because daily price bars frequently show a retracement of the prior day's price action and this retracement was nothing unusual.

The commentators had a duty to find some story that would fit though.

Dilbert,

I'm a trendy girl, but there are those that do. Particularly if you're prepared to stay up all night and scalp the range to death for 4 or 5 pips a throw on the 1-minute chart.

Btw, when you gave Edmundo the heads up, I hope you told him you heard it here first.

:o)

Was thinking more of the daily chart Hils and only once Europe was open.

I figured that, Dilbert, and that's probably how I'd play it if I traded ranges. I think Chocopops might be your Range Queen.

Only 140 characters, Hil, not enough for attributions. :-)

I bet you Tweeted it on one of those iPhone wotsits as well where you need a prior visit to Specsavers Flossieshop just to see the bloody screen!

Talking of Chocopops - has she stopped trading or just stopped posting?

Currency Trader Magazine available for free download here.

Often a place for ethereal mathematics, but some quite interesting stuff occasionally. Anyway, it's free, so nothing to lose.

ttt

x

Oh, Dilbert. I didn't know you cared.