The U.S. dollar “absolutely crushed” investors who were shorting it ahead of the greenback’s April rally. For the record, that’s when Hedgeye’s macro team first went bullish on the dollar.
Four months later, long the U.S. dollar is finally a consensus position on Wall Street, according to CFTC futures and options positioning data.
What’s next for the U.S. dollar?
From here, there are a lot more factors to risk manage, explains Hedgeye CEO Keith McCullough.
“Today it’s a much more interesting debate, because many more people see what we see. And that is we’re not in a globally synchronized recovery,” McCullough explains in the clip above. “Never forget to contextualize why the dollar went down [in the last week]. It went down because it went up – and it went up a lot in a short period of time.”
Watch the full clip above for more.
