C.O.B.R.A. November Portfolio Update
The currency trading world was quiet heading into yesterday’s quantitative easing (QE) tapering announcement from the Fed. When risky positions are trimmed amid tighter liquidity, the process can intensify a strong-dollar environment. That’s a key reason we entered three strong-dollar trades in October. Meanwhile, the global economy is dealing with high energy prices and supply chain bottlenecks. Our October trades were designed to profit from these trends. For now, Dan gives guidance on the open positions in the portfolio.