continues to hang around the parity level, and quite frankly it does not seem like it’s in a hurry to go anywhere. I suspect that this next week might be a bit more volatile though, as the Federal Reserve has an interest rate hike. It will not necessarily be the hike that the market, but it will be how the market perceives the accompanying statement and/or press conference.
The British pound has a lot of pressure on it due to the fact that the United Kingdom is almost certainly going to head into a recession and energy shortage. At the same time, you have the Federal Reserve looking to tighten monetary policy, and there is a shortage of US dollars around the world to pay back debt. I believe you fade rallies over here as well.
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