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Daily strategy - Fed wording will be key to dollar's fate
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Trading the Federal Reserve decision on Wednesday will inevitably be extremely dangerous and there will be a very sharp dollar sell-off if the Fed does not change the policy wording. In contrast, a significant change in text would trigger heavy stop-loss Euro selling. Overall, a very small change in text is the most likely outcome. Despite the risk of very whippy trading, the best strategy looks to be for a straddle on Euro/yen as there should be big price action on this cross. Alternatively, look to sell GBP/USD above 1.6520. Full Story |
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Submitted Nov 4, 2009 2:42am
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