Since the October FOMC rate decision did not come with a press conference, the entire financial markets was looking towards the minutes to garner an idea of what happened in the closed door meeting among the Fed governors and Yellen.
There was a fair amount of noise in the media though, it seemed somewhat muted.
In any case, I stayed up and at 2:55am, I placed the following trades: –
GBPUSD – 1.5197 – 1.5217 – 1.5237
EURUSD – 1.0618 – 1.0638 – 1.0658
USDJPY – 123.27 – 123.47 – 123.67
As it turned out, the minutes lacked luster, rates did not move anywhere.
10 minutes after 3am, I decided to withdraw the three straddle trades.
What a disappointment!!!
The Panthenon Investment Group 