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Daily Archives: September 4th, 2014

I decided to short the GBPUSD after the ECB rate decision at 1.6440 to try and compound the move down for the European economies.

Just squared the trade at 1.6400 for a trading profit of 40bps.

So much talk leading up to today’s ECB rate decision and press conference.  I decided to to take a chance, it’s pure gut feel, I bought a put option for one day expiring tomorrow Sept 5 with a premium of 44bps, strike at 1.3150 and breakeven at 1.3106.

What a surprise!

The ECB announced cuts on the main interest rate and also went negative on the deposit rate, sending the Euro crashing, I just squared off the trade at 1.3026 and was happy with a 80bps profit.

This is the trade all of us have been waiting for!