At last! The strength in the US dollar that I have been waiting for has begun. This is the beginning of a major move, that will last for some considerable time. It has already impacted sharply on the major and minor currencies around the world.
I am long 3m USD (see previous posts!) against the euro at an average of 1.5160, which has at last moved into profit, with this pair closing this morning at 1.5000.
I was long 1m USD against the yen at 106.30 and added another USD1m on the break above 108.50 at 108.70 this week. So am now long USD2m at an average of 107.50, with this pair closing this morning at 110.20.
Gains to date actually banked are NZD369,000.
Looking to buy NZD and sell AUD1m on open on Monday, as this cross is moving higher, with a target of 0.8500 in the next few months.