FX: Riding The Dollar Decline

With the US dollar firmly on the ropes, Asian FX are looking red-hot, with several currencies on course to launch an assault on key areas of technical resistance. For some time, BMI's house view has been that the dollar index is likely to test the all-time low before any long-term reversal in fortunes can take place. This assertion, coupled with growing evidence that AXJ's business cycle has past the trough, suggest to us Asia FX outperformance versus the greenback could have much further to run.

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