Short XTL (update)
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I suggested shorting the XTL on 2nd June 2016 and now I believe that Central Banks will have no choice but to embark on a more aggressive stance. BoJ, BoE and ECB will be looking to reduce volatility, inject liquidity, depreciate ¥ and avoid excessive US$ appreciation. The Fed will work hard to reduce the degree of monetary policy divergence.
This means we are getting ready to close out the XTL short and bank the profit.
