(This is an excerpt from an article I originally published on Seeking Alpha on September 27, 2013. Click here to read the entire piece.)
A simple statement is all it took:
“THE Bank of England would consider the case for more quantitative easing should the recovery falter, Mark Carney told the Yorkshire Post.
‘But my personal view is, given the recovery has strengthened and broadened, I don’t see a case for quantitative easing and I have not supported it.'”
This simple quote in the Yorkshire Post from an interview with Bank of England Governor Mark Carney represents an about face in the market’s perception of Carney’s intentions. {snip}
This sudden pop is a timely example of the apparent coiling that I noted in “Time To Watch The Forex Action Unfold: React, Not Anticipate.” {snip}
Source for charts: FreeStockCharts.com
{snip}
Be careful out there!
(This is an excerpt from an article I originally published on Seeking Alpha on September 27, 2013. Click here to read the entire piece.)
Full disclosure: short EUR/GBP