Surveillance: Yield Forecast with HSBC's Major
Bloomberg Surveillance
00:00
The Positioning of the Euro
positioning data is clear that essentially folks are on board with the short-dollar trade. The question is, if credit conditions tighten, can the euro really rally? And we saw that with SGB when we had the financial conditions tighten. I actually thought it was remarkable how it didn't go much lower during that period of crisis. So the positioning is one thing in FX. Yes, it's long euro. But I don't think investors are overly net long euro to make a big risk for this trade right now.
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