GBP Trade-Weighted Index Weekly Chart
I am taking all the data and looking at it from the perspective of a trade-weighted index of the UK currency, the GBP. The individual currency, itself, has been trading in a box range for the past 90 weeks. Signs of life are appearing as the data from the UK starts to coalesce and reflect that demand is coming in. The longer we stay in the box the more steam builds up on this weekly chart. It seems that the currency has a way to go to take out Brexit highs.
April is the time of the end/start of the UK tax year. Large UK corporations are in the midst of heavy dividend repatriation and/or payments. income from commodity-FDI investments are still going strong. There is a reduction in the uncertainty between the UK and the EU since agreeing to a transition period. Also, the UK central bank is hawkish.
News about US protectionism or trade wars don't hit this currency hard but it hit t intraday on smaller timeframes. The UK currency bounces back.
the UK currency has a different route that the US dollar. the former is tilting upward, while the latter has been trending down and this looks like it will continue this way for a long time.
April is the time of the end/start of the UK tax year. Large UK corporations are in the midst of heavy dividend repatriation and/or payments. income from commodity-FDI investments are still going strong. There is a reduction in the uncertainty between the UK and the EU since agreeing to a transition period. Also, the UK central bank is hawkish.
News about US protectionism or trade wars don't hit this currency hard but it hit t intraday on smaller timeframes. The UK currency bounces back.
the UK currency has a different route that the US dollar. the former is tilting upward, while the latter has been trending down and this looks like it will continue this way for a long time.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
