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Dollar posts 1st monthly gain in four months

Published 02/28/2018, 03:34 PM
© Reuters.  Dollar posts 1st monthly gain in four months
USD/CAD
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HLF
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UUP
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UDN
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USDU
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  • Traders began to unwind some of their short dollar exposure on the back of higher yields, and a jump in equity volatility.
  • Jay Powell's comments yesterday regarding the state of the economy and monetary policy provided more fuel to the unwind.
  • The euro is weaker on the back of softening inflation data, the sterling is being pressured by Brexit negotiations, and the loonie has been lower on NAFTA uncertainty. The yen is the only only major currency up against the dollar this month, primarily on the back of slowing JGB purchases and potential fiscal year-end repatriation flows to Japan.
  • Source: Bloomberg
  • ETFs: UUP, UDN, USDU
  • Now read: Herbalife (NYSE:HLF) takes victory lap after Ackman throws in the towel


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