A burnt market is wary of selling the Dollar, Kit Juckes, Global FX Strategist at Société Générale, reports.
The US is still waiting for its Roadrunner moment
Last week’s data has done a lot to persuade me that the US economic cycle has finally turned, and the peak for both Dollar and 10-year yields is in, but it’s clear that the market collectively is very worried about being caught out again.
I suspect that economists will need more convincing than I do, that the US outlook has changed. It brings to mind an image of Roadrunner sprinting off the end of a cliff and hanging above the abyss for an unreasonably long time.
