Weekly Forex Market Commentary

The dollar rallied big across the board and the surge started in a sneaky way during the Labor Day holiday.

The dollar rallied big across the board and the surge started in a sneaky way during the Labor Day holiday. This upmove reflects mainly liquidation of long-term short dollar positions. The burst of the commodity bubble helped, but let?s not get carried away while a barrel of oil still costs more than $100. Only dollar/yen collapsed because of ongoing long liquidation of yen crosses, including carry trades. But mind you, only the dollar and the yen can rally while their economies suffer.? So, hold long dollar/Europe and dollar/antipodeans with ginger care. Just in case it wasn?t crystal clear before, the horrible US jobless data told us tha

GFT