Tuesday, May 06, 2008

Quiet Day....

Yesterday was a very quiet day, as there was a holiday in the U.K.. The dollar gave back a little of it's recent gains but I think that is only a little bit of profit taking in the middle of a bigger move.

I am looking for dollar futures to also retrace a little (moving higher) but once again the bigger move for dollar rates is higher.

On another note, look for the Brazil to weaken and for rates to continue to move higher. The CB clearly wants rates higher and the currency made a big move on the back of a much anticipated upgrade (I am talking my book but that is allowed).

Good Luck and Good Forex Trading.



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