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Veksler: Why I'm bearish on the dollar
Someone who isn't afraid to buck the trend is London based trader Ken Veksler. Whilst most trades may be bullish on the dollar off the back of last week's FOMC meeting, he has decided to remain bearish.
He explains he's not a "firm believer" in the underlying strength or development of
the US economy. In addition, Ken believes the end of QE has now been "entirely priced in", so whether it’s
give or take a month or two, it will be the end of this year.
Last week, Fed Chair Janet yellen said borrowing costs could start rising “around six months” following an end to the US central bank’s bond buying.
But Ken is skeptical about this and believes that over the next few months we’ll see some of the doves looking for a way "to backtrack" Yellen's six month comment.
The US benchmark interest rate target has been held at zero to 0.25 percent since 2008 to support the economy.
01:44 minutes
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