Currency That Can “No Longer Fall On Bad News” Falls On Bad News

Currency That Can “No Longer Fall On Bad News” Falls On Bad News

Well, we don't want to rub it in or anything, but we'd probably be remiss if we didn't mention that just six hours after Bloomberg's Mark Cudmore described GBPUSD as  "a market that can no longer fall on bad news," sterling fell (albeit with a noticeable delay) on "news." To wit: 7:24: THERESA MAY WILL TRIGGER ARTICLE 50 NEXT WEDNESDAY: CITYAM 8:12: GBP/USD DROPS TO SESSION LOW OF 1.2367; BIDS AT 1.2350: TRADER As Bloomberg writes, "GBP/USD reverses earlier gains as it drops below 1.
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