The Euro suffered punishing losses in the first quarter of 2022. The currency is on pace to shed almost 3 percent against an average of its major counterparts, marking the worst three-month performance in 7 years. Taken together with losses in the second half of last year, the Euro is poised to give up nearly 4.5 percent over the course of nine months. By the way, the Euro may bounce as the Ukraine crisis de-escalates. The chart ...
It is difficult to tell what role the Dollar will play in the global financial system heading into the second quarter of 2022. On the one hand, traditional risk assets have held back the tide of a more prolific collapse while interest rate expectations have exploded higher. Alternatively, there exists a growing din of concern that markets have over-reached in the post-Great Financial Crisis run and a necessary ‘de-risking’ has yet to occur. ...
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