CHART OF THE DAY: Reflationary Policy | Weak $USD Policy

As usual, let’s start with what happened in the Global Currency market last week (hint: #Quad2):

1. US Dollar Index was down another -0.3% and down for the 4^th week in the last 6, showing no signs of #Quad2 abating
2. EUR/USD was up another +0.3% last week to +1.2% in the last month and remains Bullish TRADE and TREND @Hedgeye 
3. Canadian Dollar continued higher, appreciating another +0.3% last week vs. USD to +3.5% in the last month
4. GBP/USD was up another +0.4% last week to +1.6% in the last month and remains Bullish TRADE and TREND as well
5. Hungarian Forint appreciated +2.3% vs. USD last week to +5.4% in the last month = Bullish TRADE and TREND
6. Icelandic Krone appreciated +1.6% vs. USD last week to +2.6% in the last month = Bullish TRADE and TREND

Yep, The People of Hungary and Iceland are happy about their purchasing power appreciating. I googled a bunch of them and can’t, for the life of me, find any of them complaining about their currency appreciation being “transitory.”