Why One Trader Thinks "The Fed Is About To Take Out The Last Pillar Supporting The Dollar"
From Mark Cudmore, former FX trader who now writes for Bloomberg
Fed Can’t Help Dollar Bulls in Denial
Expect the Fed to take out one of the last pillars of dollar support today.
Dollar bulls are still not capitulating despite it being on target for a sixth consecutive week of losses. While some doubts are finally starting to creep in, the majority of analyst notes this week suggest the FOMC can put the dollar uptrend back on track. I’m surprised.