Forex news for US trading on Dec 15, 2015:
– Gold flat at $1061
– WTI crude up 43-cents to $36.74
– S&P 500 up 21 points to 2043
– US 10-year yields up 4 bps to 2.26%
Here’s my theory on US dollar strength on Tuesday: Fast money was piling into US dollar longs in anticipation of a Fed hike and instantaneous jump in the US dollar. If that unfolds as expected, they’ll be closing out the positions by this time tomorrow and the spike high in USD will be at least a short-term top.