Thursday, November 19, 2015

More Dollar BULL Shit

The long dollar CARRY trade is stranded on colossal self-delusion...

The dollar is at a 12 year high...
In the last rate rise cycle 2004-2006, the dollar never reached the current levels, even with rates at 5.3%. When rates started rising in 2004, the dollar fell:
Dollar index with Fed Funds rate

Shanghai Composite with US Dollar

Shanghai Composite with US Dow