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What is the best FX trade this week?


Guest Sam Bouman

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This week after looking over the various fundamentals and macroeconomic issues in the market I believe we could see some sort of rest bite from the frantic risk off scenarios we have had recently where forex investors have poured into the safe haven markets such as the Japanese Yen and Swiss Franc.

I believe this week we could see some sort of a reversal or a retracement on the pound which has taken a pummelling in recent weeks. My reasons for this are the fact that there will not be any negative Brexit news until we see a new leader of the conservative party, Secondly with President Trump in London for a few days this week he will be wanting to talk up the chances of a trade deal with the UK.

If we then pair this against the currency that we believe will be weaker through the week (safe haven currencies)  sue to the rest from the constant sell side then we can choose the GBPJPY and GBPCHF to look for buying opportunities with the pound.

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