- UK 1Q GDP weakish at +0.5% qoq / +1.8% yoy but slightly > expected. Short sterling contracts a bit weaker across.
- FSSZ1 @ 1.21% now vs 3mth Libor @ 0.82%
- Monthly : Still positive.
- Weekly : Possibility of topping action in progress.
- Daily : IF we close today around current levels, it's a confirmed reversal of the uptrend; will negatively impact on the higher time frames.
- Shorting FSS is probably a better hedge for short USD positions than shorting ED.
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