Monday 25 November: USD gaps lower

The week begins with the news Scott Bessent will be given the role of treasury secretary. 'The market' seems to like the appointment with S&P futures above 6000.

Whilst I don't think I'm prepared to short the USD on the news, the dollar did 'gap lower' at the market open, which is an example of why it's a good idea not to hold trades over the weekend.

If the mood remains positive with stocks up and the VIX around 15, 'risk on' trades could be on the agenda over the coming days.

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