Dollar Madness! Unwind Of More Than $40B In Speculative Positions Fuels Violent FX Trades |
| June 07, 2013 | June 2013 Bond Updates |
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Madness! Global currency markets have moved violently over the past few weeks, as a massive unwind in long U.S. dollar positions seems to have challenged the underlying logic that the greenback should be stronger by the end of the year, as the Fed tightens monetary conditions. The move, weaker U.S. dollar, has been accompanied by a big reversal in Japan, both in the Nikkei and the yen, and by a less dovish ECB, feeding strength against the greenback in two key crosses. |
| View more at: http://www.forbes.com/sites/afontevecchia/2013/06/07/dollar-madness-massive-unwind-of-more-than-40b-in-speculative-positions-fuel-violent-greenback-trades/ |
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