Dollar's second wind, market rethinks the Fed
The dollar is grinding back to 102, and the crowd that called the top early is getting quiet. I'm not fading this move — the Fed narrative is shifting again.
The dollar is grinding back to 102, and the crowd that called the top early is getting quiet. I'm not fading this move — the Fed narrative is shifting again. Everyone was convinced the peak was in, but price action says otherwise.
I've been around long enough to know that when the consensus gets too comfortable with a weakening dollar, that's exactly when the buck finds a second wind. The market is starting to price in a more patient Fed, and that's bullish for the Greenback.
I'm sticking with a long USD bias here. No need to overthink it — the trend is clear, and the narrative is catching up.
Comments5