Wrong on the Zar

Although I still think there is upside to the dollar Zar trade I must be realistic and cut my losses here. I will however be looking for another opportunity to go long dollars in the future. For today I see little happening as no new economic numbers in the U.S. are due out.

Yesterday Greenspan was talking very aggressivly on the China revaluation issue (as have many members of the U.S. government. It looks to me that dollar Asia will trade heavy as long as this remains a "front page issue". Near term this looks to be the case.

Today I sold dollar Mexico (added to my already short dollar position). I also remain short U.S. dollar futures.

These are my FX Trading Ideas for today.