Hello,
The FOMC minutes released this evening supports my case for stronger USD as the members are less convinced that further policy measures are needed given the current state of the economy. Price-action the last week(s), meaning weaker dollar, points to a belief that further quantitative easing (QE3) would be realitiy, which has also been visible in the declining yields lately. This will probably now change. I think that the information out tonight could potentially lead to a continued increase in yields short/medium term, which means that I continue to see a fundamental case for stronger dollar. So, no change to my current positioning (Long USDJPY, short EURUSD).
The total portfolio value at this time: USD 4254 :) - a good number eventhough I have been stopped out of USDJPY a couple of times lately... (I need to place my stops outside the obvious support-areas)
Have a nice easter!
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