Day 554: Dollar reversal

Profit: -$2.10 Total: $628.58

The dollar had a wild day with an initial whipsaw action after the FOMC minutes meeting but soon dropped after. Although the Feds were more hawkish than dovish, the markets sold the dollar off despite the upcoming rate hikes. There was no urgency in the minutes release of a rate hike but still had the words “gradual hike”.

I didn’t trade much today due to the pre FOMC minutes release being really boring and then chaotic after. I could’ve sold the dollar after the markets settled down and punished the currency across the board, but I chose to be passive instead. Seeing the magnitude of the sell off, it looks like the dollar will be down for the next couple days; not looking for a reversal anytime soon.


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