$VIX

GBP is the new oil

After 12 months of tight correlation to oil prices the SPX broke free somewhere around $50 per barrel.  Since we are a global economy there is always something to jump in the way and replace it.  That new something is the British Pound and it is losing value with frightful alacrity.  The ETF that tracks the pound is FXB and is a good enough vehicle to trade the British Pounds moment.

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