According to the estimates, US advanced retail sales on Thursday in addition to US CPI data on Friday can be act as supportive data for the dollar. British pound is the weakest competitor in my view, so I will go short on GBPUSD very soon and I will increase the size if I find the coming technical data more supportive.
Increase in retail sales, which is expected to be reflected in tomorrow report, can improve the currently battered market sentiment. So, selling the Yen is an option in the next 20 hours.
June 11, 2008
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