BEST WAY TO EXPRESS BEARISH USD VIEW

Yen calls are dirt cheap, and few like the Yen. Of course the 'tourist loves this trade...

It’s been a while since I have written about FX, but it’s time.

Let’s start with a recap. In the initial days of the corona crisis, the USD took a quick dip as the market assumed the Federal Reserve would flood the system with USD. However, as the crisis gained in intensity, the USD-shortage-will-overwhelm-the-world bulls took over. Trading desks wer…