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Does the recent beta underperformance portend near-term UST- and JPY-bullish risk aversion?
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You mention you are long USD and JPY but you say that you are already short USDJPY. (I see record lows, myself...). I suppose that you are short EURUSD to give USD strength.
I can see weakness in the USDCHF charts as well, so USD strength, as recorded by DXY, would mean the Euro would take a real pounding. Is that your assessment?
:D