Sharp US Dollar declines have been met with similarly noteworthy shifts in FX Options market sentiment, thwarting calls for USD rallies through short-term trade. In past weeks we wrote plainly in favor of Dollar strength on the combination of overextended futures positioning and sharp correction in FX Options risk reversals. Yet more recently we have seen pullbacks in both and have little option but to shift our short-term bias.

EURUSD – Euro Forecast Turns Bullish Against US Dollar

GBPUSD – British Pound Bias Calls for Weakness

USDJPY – Japanese Yen Forecast to Gain Further

USDCHF – Swiss Franc Likely to Strengthen against Dollar

USDCAD – Canadian Dollar May Appreciate Against USD

GBPJPY – British Pound Forecast to decline Against Japanese Yen

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