US dollar solidified its status of the most hated currency in the world. What looked like dollar buying in the last few days turned out to be just a correction and yesterday the green back was damped across the board. The really interesting thing was that the data released yesterday suggest that we are going to see 4 rate increases this year from the FED, yet, that did not help US dollar in any way. The dollar short trend was just too strong.
As for my trades (all dollar long) I basically broke even, had some small gains and some losses. At this stage I’m not sure what I want to trade. Both euro and the sterling reached such high levels against the dollar that it seems quite appealing to buy the greenback. On the other hand, I do wonder if there is an end to dollar sell-offs.
This morning I shorted AUD (after a mixed employment report) as it seems one of the weakest currencies right now. I’m also starting to think about yen buying, but at theses levels it could be a suicide, so I need to wait for some kind of pull -back.
As for my trades (all dollar long) I basically broke even, had some small gains and some losses. At this stage I’m not sure what I want to trade. Both euro and the sterling reached such high levels against the dollar that it seems quite appealing to buy the greenback. On the other hand, I do wonder if there is an end to dollar sell-offs.
This morning I shorted AUD (after a mixed employment report) as it seems one of the weakest currencies right now. I’m also starting to think about yen buying, but at theses levels it could be a suicide, so I need to wait for some kind of pull -back.
