Choppy US Dollar price action has made for similarly indecisive moves in forex crowd sentiment, but the most recent move towards USD shorts against the British Pound and Euro leaves us modestly bullish the US currency through short-term trade. Yet traders remain very heavily net-long USD versus the Japanese Yen, Swiss Franc, and Canadian Dollar—warning of further losses against said currency. The effectively mixed view on the Greenback leaves us with little conviction, and we may need to wait until further clarifications in price action before taking a stronger stance in our USD forecasts.
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