FOREX VIDEO - New York Session Review - September 15, 2009

During today’s London session, Bank of England governor Mervyn King noted that the central bank was looking at ways to reduce bank reserves, including a cut in its deposit rate. Currency markets responded to King’s comments with a sharp British pound sell-off, followed by a more gradual melting of the GBP/USD during the New York session. The cable’s response to multiple U.S. news reports provided a clue to an entry point soon after the NYSE opening bell on what became a 60-pip trade. Curt Wehrley FX Bootcamp’s Quantitative Analyst

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