27 November 2007 - 19:24Trade of the day 11/27/07

Given the fact that the Yen just retraced a penny and that retail sales data came out above expectations I could say buy the Yen again.  Which I do, but also I like the Swiss Franc against the U.S. dollar going into tomorrow with the KOF and existing home sales helping the Franc get back below 1.10.  You might also try GBP/CHF if you fear volatility around the U.S. figures, the carry trade unwinding helps out with that trade as well.   GBP JPY is also a short currently with 225 being resistance on it.  Look for at least half a penny on these trades you can probably pick up 150 pips on GBP/JPY overnight with 223.50 as a take profit FX traders.