I'm back from vacation and i've been fortunate enough to close out both my Australian dollar and ILS positions well into the money. While i've been gone it seems a large dollar weakness frenzy has begun to take hold of the markets. In the past couple of days I have been building positions short EUR and GBP against the dollar. This has been a futile effort thus far as the political environment seems to be driving massive dollar weakness, and we are testing strong levels of resistance. I've added enough to these positions and I refuse to either flip directions or cut losses. These currencies are fundamentally weak and borderline overbought.
That being said, there's a fed meeting next week.... so i'll probably either sell out or hedge some of my positions over that time period to avoid the chaos.
