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Sell the Euro way to go - SocGen

FXStreet (Bali) - Societe Generale makes a case for downside pressure to continue on high yielders, commodity currencies and the euro, with the USD still the main beneficiary.

Key Quotes

"The dollar has rallied too far, too fast since July on the back of good data and a small change in the FOMC language. Long dollar positions became excessive and the FOMC minutes were a catalyst for a clear-out."

"Maybe the dovish nature of the minutes is a reminder that we have not yet moved to a ‘strong dollar’ phase, just a correction from excessive under-valuation, and downside pressure will continue to increase on high yielders, commodity currencies and the euro."

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