And I’m sure they are not alone…They target the 1.3700 level, which is reasonable based on my reading of the charts. To me, we need to break and hold 1.3300 firsts…
They covered a EUR/USD short at 1.3230 and are now recommending longs.
The dollar is struggling mightily against the perception that the Fed is the lone central bank of any size globally which is not concerned about inflation.
The were unconcerned in 2008 when commodities were dramatically firmer than today and were proved correct, so we will have to see…
At the moment, it is sell dollars first, ask questions later…
