Free Trial

6-Month Bill Auction Results


CHART: EU Gas Overview in Charts


6-/9-Month Tbills


Tuesday Data Calendar


EU Looks to Increase Mozambique's Gas Security


Fed Hikes Recovering From Empire Miss

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
DOLLAR: ### POV: Dollar's recent sell-off remains sharp on a historical basis
and the risk of a short-squeeze is rising.
* After funding requirements prompted volatility in EURUSD crosscurrency basis
swaps ahead of Christmas, the USD rallied on perceived funding demand from
institutions across Europe.
* This was quickly reversed post-Christmas with markets citing month-, quarter-
and year-end rebalancing as a catalyst for the sharp dollar sell-off.
* Crosscurrency basis swaps have now returned to 'normal' levels and usual
service should resume.
* MNI's FX Positioning Indicator suggests the market has become less bearish on
the greenback: the CFTC COT report shows speculators held a net long position
for the first time since July 2017 last week. This closing of successful short
positions could underpin the greenback in the coming weeks.
* Of the seven weeks since the beginning of 2016 the DXY fell this sharply, on
five occasions the dollar rallied in the following week and only twice did it
fall further.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.