The pounds is getting pounded, as explained by fundamental analyst supremo, Kathy Lien ( 5 reasons why the pound is being pounded). As reflected by the chart that I have below, the MYR (Malaysian Ringgit) is enjoying its own strengthening against the pound.
It's approaching a 10 year low, (almost 5.00) and the last time it happened, was early 2009 when the world financial turmoil started. During that time, the collapse of Lehman Brothers, Morgan Stanley, Merrill Lynch (to name a few) has sparked a worldwide panic and the lost of confidence of the world's financial market. Well, this time, the GBP (Great Britain Pound) is down partly because of concerns about the upcoming elections.
When will the rebound be!? Noone knows... But probably we've entered a period to pick up some good bargains. However, the downtrend hasn't been broken yet. Good luck profiting!
Thursday, March 4, 2010
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Forex is just too complex for me.
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