Sterling Digest: March 8, 2012

kal cartoon of sarkozy, merkel, and cameron

The market is way ahead of their rhetoric

With 4 central banks making statements in the past 24 hours, I’d say it’s been a tame session. It’s amazing (to the point of amusement) how much the market pauses and takes a step back for US NFP. Big guns are positioning. If you were around since Asia, you saw $GBPUSD quietly rally to open London at 1.5750. She now sits at 1.5820. You do the math. So the BoE did what was expected. And the market reacted as expected. Weird. And tomorrow is Friday. Trader be aware.

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