=> As mentioned previously we are not expecting anything but dovish commentary from the SNB later this week.... vol is cheap and we see USDCHF trading back to the previous break down levels. => The higher US rates = higher USD narrative is starting to fade so this remains only a short-term play before the hikes later this month. The stage is being set for a mid-term devaluation in the dollar against major currencies. (Despite growth continuing to tick above trend cracks are beginning to appear. ) => This backdrop on the macro positioning means we see this only as a short-term valuation play using a dovish SNB as the ebb and flow. => Good luck to those trading this one in live
@USAS_INC, GL mate, as expected bulls are showing up..
USAS_INC
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@ridethepig, FED rate hike bulls or bears for dollar?
ridethepig
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@USAS_INC, Initial reaction will be dollar positive. I am going to be covering in more detail this event live in the telegram. In a nutshell mate: we are tracking any change in description of "accommodative" ... personally I am expecting this to be the last and final hike of the year, a mention from FED on EM risks and trade tensions will do the trick.