Mervyn King gave a speech in Helsinki Finland today just before he takes retirement from the Bank of England in which he said that both austerity and growth were at fault of grossly exaggerated...
Everyone has heard of Marie-Antoinette screaming from her balcony at the Palace of Versailles in the early hours of the French Revolution: “if there’s no bread, then let them eat cake!”. Right!
hkd/skd is clusterfucked. I shorted eur/jpy also. The heck with this crapola. so much for tandem risk,
You can really see lack of liquidity in= tier2 currency trading. The won is fun, and boring/ Pegged to the usd.
There is an inverted pattern on the one hour chart. The Hong Kong dollar is over bought. I figure a few pips are in that trade.