MI2 Chart Point: Watching LatAm

For long-term dollar bears like us, the tragic events in Ukraine have proved highly frustrating. Not only have they weighed on the Euro, which dominates most of the major FX dollar indexes, but by further stoking inflation pressures, they have complicated every currency trade because you now have to tiptoe around each central bank meeting or speech. That brings us to Powell’s extraordinarily hawkish speech to the National Association for Business Economics yesterday. 

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