Brits Attack US Dollar – Wednesday 27 Nov 2013 (6:41)
What appropriate timing – an attack on the US Dollar by the British Pound on Thanksgiving!
So far today the British Pound has gone from under $1.62 to $1.6325 – and Thanksgiving hasn’t even started. We’ve got another 2 clear days of trading before the bulk of US traders return to their desks.
Of course it’s obvious why now – no one is there to defend/buy the US Dollar and so volume is light. They’re all thinking about Thanksgiving, how to get home, how they’re going to spend their long weekend, whether they’re going to go shopping at Macy’s or Walmart on Thanksgiving Day itself.
This is war and in war you play dirty. Which includes hitting your man below the belt, as the bell rings and while the umpire is looking the other way.
Enjoy your Thanksgiving.