Yesterday’s UK employment data was most encouraging. However, it is data prior to Brexit, it would be interesting to see the data the following month or two. We need time to let ’emotions’ run through the economy, then and only then, will we have a more appropriate picture of post Brexit impact.
However, in the meantime, the data was good.
I decided to chase the market by going Long GBPUSD at 1.3100 and squared at 4:54pm at 1.3165 for a trading profit of 65bps. Not bad.
Had to leave for an evening cocktail. In hindsight, the GBPUSD moved higher after 5pm and again this morning at 7:30am Asia time. Currently, it’s holding at 1.3229.
Hmmmmm……..missed out on the 100bps move, oh well. at least the drinks last night was great!
The Panthenon Investment Group 