4 Jul 2013
Flash: All eyes on Draghi - Investec
FXstreet.com (Barcelona) - Lee McDarby, Treasury Analyst at Investec notes that USD/JPY has slipped back under 100 which has no doubt helped to facilitate the GBP/USD move higher to 1.5250.
He feels that given that today is a US Bank Holiday then investors may see thin and illiquid markets when the US would normally start trading early this afternoon. He adds, “When we tie that in with the fact that all eyes will be on Draghi at that time then we could see some over-exaggerated moves in exchange rates, so pop that tin hat on and don’t get caught off-guard!”
He feels that given that today is a US Bank Holiday then investors may see thin and illiquid markets when the US would normally start trading early this afternoon. He adds, “When we tie that in with the fact that all eyes will be on Draghi at that time then we could see some over-exaggerated moves in exchange rates, so pop that tin hat on and don’t get caught off-guard!”