💵🔺Dollar Weakens Into Strong Seasonal Period: Cable FX Macro
- Rosbel Durán
- Jun 11
- 1 min read
Looking at the last 10 years of dollar trading, the current calendar period tends to see the dollar rebounding. The dollar has sold off during the first part of the year, but it has seen consolidation for the last couple of weeks. The fresh lows were rejected at the beginning of the month.
Option skew in 1m dollar options continue to see a trimming of puts premiums over calls, the last reading stands at 21bps vs 44bps two weeks ago.
Over the last three months, CHF, NOK, CAD, NZD have risen the most vs the USD. As a reminder, the dollar still holds the highest carry in the G10, the 3m depo rate stands at 4.5%.
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