The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
Head of FX Strategy
Summary: Traders have rushed to trade the sterling strength as the recent break higher in all GBP crosses has seen significant follow through on growing confidence that a no-deal Brexit will be avoided. Elsewhere, action is largely muted.
Page 2: GBP strength all over the map here as well, and we discuss EURNOK below, even if we are some distance from a breakout.