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📈💵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



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