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Many investors want (and settle) for simple answers. Unfortunately, simple answers aren’t always the correct answers.

Take this year’s move in the U.S. dollar.

The mainstream financial media has been pushing the narrative that a dovish pivot by the Fed would be bad for the dollar. Not so fast. As Hedgeye CEO Keith McCullough explains in the clip above, any potential move in the dollar will be dictated by more than merely what the Fed does, or doesn’t do.

“You should ask, ‘At what point does the dollar start to go down against other currencies that have gone down,” McCullough explains.

“The Chilean Peso, the Icelandic Krona, it’s all of it. Don’t just ask yourself ‘What does the dollar do when the Fed does A or B?’ You also have to ask ‘What happens when the BOE or the ECB does A or B.”

Watch the full clip above for more

How The Fed Impacts Our #StrongDollar Call - early look