London Session - May 12, 2008
The opening London Session of the week has seen a continuation of high volatility, offering traders the fates of victory or defeat in a merciless fashion. The market has lacked forgiveness, with even skilled traders unable to trade around positions on the wrong side. The dominant theme of the day came via UK inflation data, which surged to the highest level since 1995. Following an early US dollar bid, the British Pound took center stage and rocketed higher with the release. The secondary story
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