Wednesday, June 20, 2007

The British Pound Leading The Way Up

The British Pound continues to rally and is very close to taking out this month's high.

Over the past 4 days the British Pound has been the strongest currency as it has rallied more than the Euro, Swiss and Yen.

I'm still looking for the B-Pound to test the year high which was made in April.


beingpossibility said...

Kevin, what are your thoughts on the Yen. It is hitting a lower major trendline and I am thinking a reversal may be in the cards. I am also aware that this may have a negative impact on the US markets because of carry trade. This is why I am skeptical, because as long as carry trade is still going on, I believe it will keep the dollar strong against the Yen.

Kevin said...

I see no reason to buy the Yen...If you look at the monthly chart, it looks like it broke down from a large descending triangle...
Long-term I am bearish on the Yen.