09 March 2013

GBP/USD : Stay Aggressive Short

  • Good US NFP (+236k vs E+160k). Book is long USD, stellar P&L performance slightly ruined by even better Canadian employment number (+50k vs E+10k) = USD/CAD lower.
  • Best performance thus far is my short cable position. Have taken some profit tonight at +1.4911 but now am contemplating concentrating my long USD eggs in fewer baskets ie put more into GBP.
  • Candidates for risk reduction obviously : USD/CAD and USD/SGD. The USD/CAD is a disappointment tonight whilst the USD/SGD moves far too slowly and returns far too little for the same amount of risk taken ie returns on risk limits used not efficient vis a vie other currencies eg GBP.
  • Cable charts all look bearish with every reason to maintain an ultra aggressive short stance.


Taichiseal said...

Done the switch.

-USD/+SGD at 1.2486
-USD/+CAD at 1.0277

-GBP/+USD at 1.4923 in equivalent risk amounts.

Left with token SGD and CAD positions whilst GBP basket has grown.

Taichiseal said...

Squared balance of USD/CAD at 1.0280