Thursday, July 28, 2005

Brazil set to lower rates

Minutes from the July 19-20 policy board in Brazil came out today. They stated that the Central Bank was prepared to shift policy quickly and that higher interest rates have eased inflation. I am looking for interest rate cuts in the next few months.

New Zealand kept rates unchanged last night (expected) but the tone of thier comments were very Hawkish. I was surprised by this and as of this morning have seen little change in ther spot but this will be something to keep an eye on.

Sterling.....I have been wrong here. Although the rate play has been correct....The spot play has been totally wrong. I continue to hold my Short GBP... cautiously....

Good Luck



Post a Comment

Subscribe to Post Comments [Atom]

<< Home