The world saw some stunning events last week. Begin with the unilateral withdrawal of US forces from Syria, and the consequent withdrawal of General James Mattis from the US administration. The apple cart such that it is in the Middle East, is more unstable than it was a week ago. With the small though salient US force removed from the complex calculus that is Syria, Many now consider the probability of increased Iranian efforts to establish themselves more deeply into Syria. This possibility rattles Israeli nerves, and the market for their currency, the New Israeli Shekel, which gave away 2.74% against the US dollar since the announcement. The Brexit train wreck continues uninterrupted. The EC, confident in the knowledge that the UK Premier will not manage to deliver her government on the terms proposed by the EU to Britain for the divorce, two important stopgap measures that will forestall complete disaster immediately befalling the hapless British on March 29. First, Britain will be able to run freight into the EU without additional paperwork and aircraft from the UK will be able to fly in and out of the EU unhampered.
Taking Stock of our Trading
Weekly Report - 24/12/2018