Alright. Had a busy morning as the development over Deutsche Bank had triggered renewed interests on the yen. One accredited investor was contemplating whether to increase exposure in US treasury, or to partially swap their holdings to JPY.
With Deutsche CDS increased again this week, now at 220 bps, this saw its share dipped by over 10% this morning. It might continue to weigh on European stocks and bonds. I'm expecting Euro, Sterling and Swiss franc to trade lower in coming days. That would in turn, strengthen the flight to safety narrative, which will likely benefit USD and yen.
Now, back to my trade I shared with you guys here. You knew I've been long yen for quite a while now. I've closed out all my yen long positions, except four short trades on GBPJPY. I might close them if it dips lower next week. For now, I'm flat on EURJPY and USDJPY. So, the floating P/L came down to -$129.
On to Cable, I still have my 21 short positions open. All but five are in profit. Floating P/L now stood at +465.
No new trades for me. I'll only be closing trades from now on, through end of the month.
Next week, I'll wrap up my Q1 and join my family for spring break. Until then, take care and stay well. I'll see you after Easter.
With Deutsche CDS increased again this week, now at 220 bps, this saw its share dipped by over 10% this morning. It might continue to weigh on European stocks and bonds. I'm expecting Euro, Sterling and Swiss franc to trade lower in coming days. That would in turn, strengthen the flight to safety narrative, which will likely benefit USD and yen.
Now, back to my trade I shared with you guys here. You knew I've been long yen for quite a while now. I've closed out all my yen long positions, except four short trades on GBPJPY. I might close them if it dips lower next week. For now, I'm flat on EURJPY and USDJPY. So, the floating P/L came down to -$129.
On to Cable, I still have my 21 short positions open. All but five are in profit. Floating P/L now stood at +465.
No new trades for me. I'll only be closing trades from now on, through end of the month.
Next week, I'll wrap up my Q1 and join my family for spring break. Until then, take care and stay well. I'll see you after Easter.
