“It’s Time To Take Off The Dollar Goggles”
It’s time to take off the dollar blinkers, exclaims Bloomberg’s Mark Cudmore, and take stock of what’s really going on in markets.
The dollar has been so strong since the election that it’s clouding the vision of all US-centric observers. Any market decision requires an accurate assessment of the state of play. So apart from the roaring greenback, what are the other themes?
First thing to clear up is that most Asian emerging-market currencies are doing well. Indian rupee is at a record low? Rubbish. That’s only versus the dollar. The rupee is an outperformer since the election, and has rallied 5% on a trade-weighted basis since its year-to-date low in June.
This post was published at Zero Hedge on Nov 25, 2016.