Sterling has broken all lows and is now trading lower than it has for years. I’ve shorted sterling and am already 30/40 pips in profit.
I closed my long USDJPY last night at 200 pips in profit. I’m holding back from crypto-currency trades because they are flat at the moment. Retail traders are supporting Bitcoin, but no one is supporting the pound.
Sterling Crash.
I’m surprised the government has not noticed and I would expect them to begin QE and further interest rate drops any second now to try and stimulate the economy. However, as the drop is due to the coronavirus this is probably a bad thing to do, a better option would be to try and stimulate business by funding business that is struggling especially the entertainment industry which is suffering the most after the government have basically stopped people attending cinemas and other institutions.
Basically, the only thing to go long on at the moment appears to be USD vs other currencies.
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