Sources
Robin Brooks
Speculative positioning in global FX markets is now very short the US Dollar. What's notable is that past episodes of stretched Dollar short positioning were heavily skewed towards Euro longs (blue). Not the case now. Markets understand there's not much to cheer about in the EU. https://t.co/G5aWkYTDXP
🇪🇺 🇲🇨🇨🇭Dan Popescu 🇫🇷🇮🇹🇷🇴 How a US dollar crisis would unfold The US dollar is meant to be a source of safety. Lately, however, it has been a cause of fear. https://t.co/rkUWuYIZXL via @TheEconomist https://t.co/xVcrxe5vrQ
- Robin Brooks
The US was everyone's favorite investment for a while. As the "exceptionalism" bubble bursts, there's now a positioning overhang and associated outflows (and $ weakness). Today's substack finds that this overhang was small & has likely been fully run down. https://t.co/gX13MixxP3 https://t.co/8Xs44YSaQW
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