30 Oct 2013
Flash: EUR and USD buyers/GBP sellers may be feeling frustrated - Investec
FXstreet.com (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec notes that many EUR and USD buyers may been frustrated yesterday, as GBP/EUR and GBP/USD fell through key trading levels of 1.17 and 1.61 respectively!
Key Quotes
“This move highlights the value of hedging, to protect your exposure from adverse market moves. The light at the end of the tunnel for those clients could be the Fed Rate Decision, at 18:00 today.”
“Discussion around timescales for tapering may cause volatility and could have dollar buyers singing along.... ‘I'm so happy because today I've found my friends’, speak to the dealing desk to place orders for out of hours trading.”
“On the flip side GBP buyers, particularly those holding EUR - who could be thinking ‘Hello, hello, hello, how low’ will GBP/EUR go? - may wish to take advantage of the current weakness in sterling and book at two month lows.”
Key Quotes
“This move highlights the value of hedging, to protect your exposure from adverse market moves. The light at the end of the tunnel for those clients could be the Fed Rate Decision, at 18:00 today.”
“Discussion around timescales for tapering may cause volatility and could have dollar buyers singing along.... ‘I'm so happy because today I've found my friends’, speak to the dealing desk to place orders for out of hours trading.”
“On the flip side GBP buyers, particularly those holding EUR - who could be thinking ‘Hello, hello, hello, how low’ will GBP/EUR go? - may wish to take advantage of the current weakness in sterling and book at two month lows.”