NOT GIVING UP ON USD SHORT YET

The 'tourist expects a bounce, but thinks the long-term USD short story has only gotten better

We need to talk about the US dollar. When I got bearish a couple of months ago, it was a lonely call. However, a quick 10% move lower, and suddenly I have lots of company.

The question now becomes; is it time to cover the short? Or does this trade have further to run?

The answer depends on your time frame.

It certainly feels like we have fallen a long w…