GBP/USD Collapses and EUR/USD on the Verge Awaiting Risk
Did we just witness the first sparks of a broader risk aversion move that can finally turn US equity indexes, the yen crosses and EUR/USD? Volatility swelled through the session with a flight-from-risk shift that was mirrored across the capital and currency markets. A fundamental deleveraging of risky positioning is overdue given fading growth, anemic rates of return and the drug-like dependency on stimulus. However, we have seen similar shocks quickly fold in the past. Should we consider the incredible GBPUSD, Gold dives and early moves amongst yen crosses prophetic; or play this as another false start on a heavily one-sided market? We discuss this pivotal fundamental balance as well as options for both scenarios in today's video.
New to FX? Watch this Video
Sign up for John’s email distribution list, here.