💵🔻Dollar Rallies Are Quickly Faded: Cable FX Macro

• We have seen a a broader narrative of USD weakness, boosting alternatives like gold, the euro, and European equities. However, some pockets of neutral-to-bullish views persist, driven by sticky inflation and potential rebounds if growth data surprises positively.

• The Cable FX Macro Dollar Index <.RDDXY> provides a more balanced view of the dollar vs G10 peers relative to alternative indexes which calculate the dollar from a trade weighted basis. <.RDDXY> is up on the year, however, rallies have failed to record material gains. Episodes of dollar gains have been followed by sharp losses.