Pounds Slips Back As Scotland Votes No

Morning Report: 09.00 London

• This morning, Stock markets are capping a week of gains, while the dollar index is maintaining its uptrend.                                                                                           

                               
                                                                                                                                                                   
                               

• The big mover is the British pound, which shot up as early election results came in. Sterling has since fallen back – a reflection of markets having already factored in a No result.

                               

• The yen pairs continue to push higher across the board, not just the GBP/JPY as the yen weakens and dollar strengthens.

                               

• The Australian and New Zealand dollars are still under pressure, extending September’s selling pressure

                               

Coming up today:

• Coming up today we have Canadian CPI and wholesale sales at 13.30.

Trade Idea:

• The AUD/USD down trend is unlikely to falter until the dollar index shows some signs of reversing its uptrend. There are no early hints of this so far, making another LOWER bet on the AUD/USD look attractive.

A LOWER trade predicting that the AUD/USD will close below 0.8925 in 5 days could return 153% if successful.

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