We are heading to Wembley Stadium!!

Wifey and I are heading to watch the Miami Dolphins Vs the New York Giants at the new Wembley Stadium this Sunday!!
Hoorray!

SORA rates driven by Fed's liquidity machine

The US Federal Reserve has pumped $25.5 billion in liquidity into the financial system so far this week, raising concerns of continued troubles in short-term funding markets.
The central bank released $8.5 billion in cash on Tuesday and $6.5 billion on Wednesday. The intervention came after the Fed pumped out $10.5 billion on Monday.
And look what happens to the SORA! (Singapore Overnight Rate Average). Singapore's soaking up all the liquidity. The possible explanation is this:

a. Singapore banks buys USD using SGD (last three days USD/SGD spiked up to 1.466 compared to the current 1.458)
b. MAS funds the SG banks SGD borrowings at lower rate to soak up the USD (lower SORA)

;-) a good way to profit if you know when the Fed is going to pump out more USD ...