Dollar Suffers Worst Month In 4 Years - Ends Record Streak Of Gains

After an unprecedented 9 months in a row of gains, for a greater-than-27% gain, The US Dollar slumped in April. Down 3.5%, this is the biggest monthly drop for the greenback since April 2011 (near the end of QE2).

 

 

As we noted yesterday, this could be a major problem as a USD-reversal is likely to drive the great unwind of consensus positioning...

 

 

 

as Long Dollar is one of the most-crowded trades in the world today...

The Great Unwind begins... to accelerate

 

Charts: Bloomberg and Cornerstone Macro