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Dollar Turn More Credible but Maybe Too Much Too Fast

Even before the softer-than-expected US inflation, we had been suggesting the dollar was in the process of carving out a significant high. Our strongest conviction was that sterling bottomed in late September at a record low near $1.0350. Our conviction had also been growing that the greenback has topped against the Canadian dollar, a little shy of our CAD1.40 target. Short-term trend followers and momentum traders have to adjust positions, and long-term structural long dollar positions need to... Read More

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Dollar

Turn

Credible

Maybe

Much

Fast

Forex

Posted: Nov 13 2022, 07:30

Author Name: marctomarket

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