Hello Traders,
The U.S. dollar is climbing fast against major currencies like the euro and the pound as Europe's energy crunch sparks a frantic rush for cash to cover margin calls ahead of winter.
Analysts are sounding the alarm over severe diesel shortages, which is pushing government bond yields higher and since the U.S. is the main exporter of these fuels, long-term bond yields are feeling the heat right along with European peers.
UUP 0.00%↑ DOLLAR FUND ETF
Smart money is leaning hard into the dollar, with big long positions stacking up on UUP with eyes locked on the $30 mark. Because the euro makes up the lion's share of the index, that kind of upside momentum in the greenback is going to pull EUR/USD straight down toward 1.10.
POSITIONING UPDATE
GLD 0.00%↑ GOLD ETF
