Friday, May 04, 2007

Sold cable, bought Eurodollars

A (very) late post...over the last couple of days I sold some GBP at around 1.995 in £5/cent, think that although the UK will hike next month, some bearish indicators on the UK economy are beginning to rear their head, such as lower numbers of mortgage approvals.

And bought Dec '07 Eurodollar at 94.905, one I've been involved in before, I plan to keep trading it by buying on weakness. Still think the Fed will have to cut rates this year.

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