Time to stop trading the crosses and start selling the USD
The entire market focus in recent months has been on the crosses, buy risk, sell risk, sell the Aussie as China slows down etc etc. After the Bernanke testimony and the Detroit bankruptcy, maybe its time to ignore the crosses and concentrate more on selling the USD?
Personally I feel more comfortable being long AUD/USD near 90 cents rather than being short? Being long cable near 1.50 rather than being short?
Just a thought from a perennial dollar bear 🙂