In this clip from The Macro Show, Hedgeye CEO Keith McCullough explains why the dollar is now Hedgeye’s biggest short position.
"Ahead of these trade deals, which will happen, don't forget... as they continue to happen, countries are going to do what's in their own self-interest."
"We remain long the Euro in quad 2 as a result."
McCullough explains that countries like Germany and Australia are in Quad 2, where both growth and inflation are accelerating. This strengthens their currencies while the U.S. dollar continues to weaken.
"The world's currencies are going the other way because people are bringing it home," McCullough says.
Want to know where Hedgeye sees the dollar and foreign currencies go from here? Tune into our Q3 2025 Macro Themes presentation tomorrow, Tuesday, July 1st at 11am ET.
