Early last month I assumed the Euro was at the time in a good position to resume its impulsive appreciation against the British pound. That judgment may have been a bit premature - but I still think big-picture fundamentals continue to support the scenario of sterling further losing ground versus the Euro ( as well as the US dollar ). Under certain circumstances I will have no hesitation to place heavy bets against the pound via the EUR/GBP - doing so actually for the 4th time since November

Early last month I assumed the Euro was at the time in a good position to resume its impulsive appreciation against the British pound. That judgment may have been a bit premature - but I still think big-picture fundamentals continue to support the scenario of sterling further losing ground versus the Euro ( as well as the US dollar ). Under certain circumstances I will have no hesitation to place heavy bets against the pound via the EUR/GBP - doing so actually for the 4th time since November

In yesterday’s European transacting time I dumped some relatively small long Dow Jones EURO STOXX 50 and FTSE 100 positions (opened July 21) for a marginal profit. In the absence of an impulsive recovery of the US and European stock markets, I decided I should make all funds available to finance the newly placed US dollar bullish bet .

In yesterday’s European transacting time I dumped some relatively small long Dow Jones EURO STOXX 50 and FTSE 100 positions (opened July 21) for a marginal profit. In the absence of an impulsive recovery of the US and European stock markets, I decided I should make all funds available to finance the newly placed US dollar bullish bet .

I felt compelled Tuesday and Wednesday to take heavy long USD/CAD positions at market, whereas yesterday I mentioned that the next currency I’d most likely decide to short versus the US dollar might be the British pound. The question now isn’t when and where I want to close the positions - it’s when and where I’m going to triple them.

I felt compelled Tuesday and Wednesday to take heavy long USD/CAD positions at market, whereas yesterday I mentioned that the next currency I’d most likely decide to short versus the US dollar might be the British pound. The question now isn’t when and where I want to close the positions - it’s when and where I’m going to triple them.

After having built massive long USD/CAD positions over the last 48 hours, the next currency I’d most likely decide to short versus the US dollar may be the British pound.

After having built massive long USD/CAD positions over the last 48 hours, the next currency I’d most likely decide to short versus the US dollar may be the British pound.

Today I feel compelled to once again start testing the scenario of an accelerating appreciation of the US dollar against the Canadian currency being underway. I may be facing one of the most important market bets of the year.

Today I feel compelled to once again start testing the scenario of an accelerating appreciation of the US dollar against the Canadian currency being underway. I may be facing one of the most important market bets of the year.