Zar Strengthens......
Ok So I have been wrong on this one so far. I think the reason is that there has been a reversal in thinking on the U.S. economy. The perception is that the U.S. economy is weakening and that rates will not rise as fast as previously thought. Dealers seem to be getting back into yield and South African Rand fits that catagory. Although I agree with that general thinking I do not feel that Zar will continue to benifit. I am holding on to my long dollar position (barley I must admit) for now.
Continue to watch the June Euribor contract. If we get back down to 97.75 I will be looking to go long again. Also this curve is getting Very Very Flat. The market is clearly looking for no change in rates. I will be looking for a spot to "fade" this move. I will let you know when I enter the position.
Good Luck to all
Continue to watch the June Euribor contract. If we get back down to 97.75 I will be looking to go long again. Also this curve is getting Very Very Flat. The market is clearly looking for no change in rates. I will be looking for a spot to "fade" this move. I will let you know when I enter the position.
Good Luck to all
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home