The market may have set itself up for another false alarm on rate action from the Bank of England. The British pound hangs in the balance. I am long GBP/USD mainly as a hedge on my bullish U.S. dollar positioning. At the May 10th policy meeting, I think the risk of further pound weakness is greatly minimized while more upside exists...especially if the dollar pulls back in the interim.
The British Pound and Mark Carney: Lots of Noise and Little Action. drduru.com/onetwenty...noise-little-action/ $FXB $GBPUSD #forex
The British Pound and Mark Carney: Lots of Noise and Little Action. drduru.com/onetwenty...noise-little-action/ $FXB $GBPUSD #forex