Boris and Kathy Forex Weekly – 10/10/2016 – Commodity Dollars
October 9, 2016 10:21 pm
The U.S. dollar may have ended last week higher against all of the major currencies but we could see further profit taking next week with the greenback unwinding its gains. It proved to be a very active week in the markets but the biggest move came from left field –sterling dropped more than 5% in the blink of an eye during the Asian trading session on Friday due to low liquidity and thin trading conditions. It set a new range for GBP/USD and made investors nervous about what comes next for the pair.
The U.S. dollar may have ended last week higher against all of the major currencies but we could see further profit taking next week with the greenback unwinding its gains. It proved to be a very active week in the markets but the biggest move came from left field –sterling dropped more than 5% in the blink of an eye during the Asian trading session on Friday due to low liquidity and thin trading conditions. It set a new range for GBP/USD and made investors nervous about what comes next for the pair.
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