Dollar bulls exhausted after Fed...

Here we are tracking the market rolling over after confirming the 25bp cut. Bulls are truly exhausted and coughing at the highs, it is a screaming short across the basket... if you are not already in there is still plenty of time to work the offer next week.

Valuations are stretched, summer trading begins and therefore it is portfolio clearing time for all USD longs. Markets will start to price in another 25bp in September after Trump forced the hand once more.

Best of luck all those on the USD sell side.