What a great start of the month with the dollar finally showing some signs of life! In a few days most currencies erased their few week-long gains against US dollar, except Japanese yen of cause which in the off-risk environment with crashing equity markets is strengthening.
From the first day of the February Contents I was dollar long, and yen long and I got hefty rewords from my positions. Unfortunately, I closed my USD longs (against euro and the sterling) too soon. It was the fear of a violent rebound that made me to be cautious.
Today I setup some new orders, mostly selling GBP if it retraces high enough for my orders to be filled. I think it is going to be the weakest currency for while from now on.
From the first day of the February Contents I was dollar long, and yen long and I got hefty rewords from my positions. Unfortunately, I closed my USD longs (against euro and the sterling) too soon. It was the fear of a violent rebound that made me to be cautious.
Today I setup some new orders, mostly selling GBP if it retraces high enough for my orders to be filled. I think it is going to be the weakest currency for while from now on.
