I was true in taking profit well before the release this morning. It is another case showing why I see it worthless to bet on the data itself, simply because the actual data and the reaction are both subject to high level of uncertainty.
June 17, 2008
Reaction to increase in UK CPI; Story of Trade vs. Gamble
3.3 headline inflation, even more than estimates, was unable to keep British pound from falling. Probably it makes investors more concerned about the prospect of the economy, which is already facing falling home prices and deteriorated consumer confidence.
I was true in taking profit well before the release this morning. It is another case showing why I see it worthless to bet on the data itself, simply because the actual data and the reaction are both subject to high level of uncertainty.
I was true in taking profit well before the release this morning. It is another case showing why I see it worthless to bet on the data itself, simply because the actual data and the reaction are both subject to high level of uncertainty.
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