GBP/USD Collapses, EUR/USD Tempts Turn, USD/JPY Best Risk Play
Volatility has become the norm for the Forex market, but there is still a notable lack of fundamental guidance on the increased activity. Drivers like the GBPUSD's reaction to deteriorating rate forecasts and Moody's downgrade or EURUSD's trendline break on concern that the ECB's favorable balance sheet adjustment will ease require consistent tending and heavy support. The best opportunity to develop volatility into lasting, market-wide trends is to see basic investor sentiment take control. But what pairs are better positioned for a risk-based move: the battered GBPUSD, recently turned EURUSD or the complimentary safe haven USDJPY? The answer may surprise you. We discuss this and more in the weekend video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.