Risk is still on after last week’s events

Posted Monday, June 20, 2016 by
Skerdian Meta • 1 min read

Some events happened last week that gave the Pound and the Euro a boost. One of those happenings was the murder of the British MP Cox. It is a tragic thing but this market has no feelings, whatever that can make it move is good enough. That heartless logic has spilled into this week too. The Euro and the Pound opened with a gap higher last night and keep feeling the demand on assumptions that last Thursday´s tragic event will convince the Britons to vote no to Brexit. Actually, some people (not sure on which side) are collecting signatures to postpone the referendum. That might have some effect as well on the GBP and the Euro.  Anyway, the referendum will be held as scheduled so I think this is just one of those times when the market does what it likes. Well, it always does, doesn´t it? We can´t set the direction,  we just have to follow it.

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