MTBigsky
Short

Still Consolidating Thanks to Fed Indecision

FX:EURUSD   Euro/U.S. Dollar
The lack of the Federal Reserve to initiate a tightening policy as they have been falsely promising for years is causing confusion between market participants. The consensus still believes that they will eventually raise rates but the longer they stall, the more uncertainty creeps into the marketplace. Are we living in a world where ZIRP is not a just a temporary phenomenon but here to stay forever?
At the end of the day Europe continues to look horrible and tape bombs of GREXIT rumors are hitting every day. I think that the Feds jawboning combined with a general uncertainty of the fate of the EU make the USD look like an attractive long. If a Grexit leads to the eventual dissolution of the Euro             then I want to ride it into the ground!
Will the Fed raise rates? Who the hell knows? Regardless I'de rather have my money in Dollars than Euros.
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