US DOLLAR SHORT
The US Dollar continues to be a main topic of discussion among investors. Since mid 2016 the US Dollar has moved lower by about 14%. This makes this the longest drawdown from all-time highs since the 22% decline from 2005 to 2008.
Below I highlight the net positioning for the US dollar among investors, hedgers, and all sorts of participants. Following the 2013 bottom and subsequent 2014-2015 rally, the dollar became a crowded long trade. After peaking in 2016, the trade is becoming more crowded on the short side.
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Sean D. Emory
Avory & Co. Founder & Chief Investment Officer
Disclaimer: This is not a recommendation for purchase or sale of any securities.
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