Yesterday Deutsche Bank warned on the rising risk of a no deal Brexit, to weigh on GBP.
Let’s see if they can extend their streak, this from overnight on gold from the bank.
- “With a currency war most likely to be fought on USD/CNY and EUR/USD terrain, one approach would be to steer clear of the direct conflict”
- “By far the most direct and simple way to trade the complexities of a currency war is by going long gold.”
DB says a true currency war could develop if the U.S. attempt to weaken the dollar, and the response from other nations was to combat such intervention … sparking a “true currency war”.