RationalFXs head of Corporate Dealing, Ross Burland, appeared live on CNBC to give his opinions on the foreign exchange market.
The Dollar and YEN has been closely correlated to the stock markets in this global crisis and the holiday season could prove to show a weaker YEN and Dollar as stocks climb higher on typical seasonal trading known as the January Effect. Essentially, Short positions maybe bought back at a loss to offset capital gains burdens whilst sparking a rally in the stock market and conversely taking the shine out of the safe haven currency plays.
RationalFXs head of Corporate Dealing, Ross Burland, appeared live on CNBC to give his opinions on the foreign exchange market.
Given the mounting fears of a global recession, indicators of economic growth have been drawing quite a bit of attention lately. As a result, the release of Euro-zone Q3 GDP and US retail sales along with speeches by Fed Chairman Bernanke and ECB President Trichet are sure to make the headlines and spur volatility in the forex markets this week. Ross Burland, Head of Corporate Dealing reports on CNBC with his bearish rhetoric on the pound and is sure volatility will remain the theme of the markets and the pound is heading even lower...was he right?; of course he was!
