Friday, November 30, 2007

USD: Time to cover shorts and turn long

At the same time US equities are rallying, I am seeing a similar rally in USD. This is one divergence I am looking closely (more rate cuts should equate to a weaker USD) but USD is proving more resilient for the past few days.

This is an overdue technical rebound. I don't have any figures to show now but will do so soon. In any case, looking to buy EUR at possibly 1.4520 and CHF perhaps at 1.13 and higher. GBP is something I am staying out at the moment. Will look to short some carry trades as they go higher as well.

That's all for now. Will update as and when I see new changes. 

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