The Kobeissi Letter
The Kobeissi Letter|Jul 08, 2025 20:17
The US Dollar has rarely ever been this oversold: The US Dollar index is trading 6.5 points below its 200-day moving average, the largest margin in 21 years. This marks a sharp reversal from January 2025, when the index was 4.5 points above its 200-day average. So far this year, the US Dollar Index has dropped -10.1%, its worst year-to-date performance since 1973. Meanwhile, speculative short positions on the US Dollar by asset managers and leveraged funds have reached their lowest level since mid-2021, according to JP Morgan. Is the US dollar overdue for a bounce?
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