The major stock indices delayed reaction among traders and investors have again surprised the market with a triple digit decline on a Monday start of trading activity. Media coverage of a rate hike has been the main-stream of coverage which we do think is primary been priced-in. However, secular forces are still at work where a probable bull trap has been setup in this decline. A Tug of war between bulls and bears are struggling to dominate the market place.
The
GBPEUR cross rate as an "alternative trade" aside from the fact, other than using it as a counter-trade strategy; the GBPEUR cross rate has a better daily swap rate compared to having a negative swap on the single currency is a small bonus for traders.
CCY: GBPEUR as Alternative Trade
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