Forex Latest 28 Apr
In this podcast I discuss how we are playing the Forex market, yesterday (Wed 27th April) we saw a risk off day as Standard and Poor downgraded Greece to junk rated. I discuss our current bias in the forex market which continues to be short of EURUSD and long of dollars short of JPY, I view yesterdays sell off in the latter as a overreaction. The pull back in AUDJPY, CADJPY, NZDJPY and to a lesser extent USDJPY is an opportunity to get long these crosses. I also explain what junk rated means and why this is so bad for Greece and institutions who own their bonds.
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