📈💵Risk Assets to Be Driving Dollar Swings: Cable FX Macro

• We argue on recent dollar trading and commentary. Media is looking for macro indicators pointing to risk strength and have mentioned a softer dollar as one of the reasons behind the rally

• Broad risk trading seems to have pushed the dollar lower, but not the other way around. The graph below shows E-mini futures in blue and the Cable FX Macro Dollar Index in white.

• Beta statistics stand next to the scatter plot, we remind you that the dollar has the highest beta to equities in the G10