Volatility in the overall currency market has been well-behaved with little movement from the Euro or the Yen; all the action has been in emerging market currencies, Roger Hirst said during today’s Real Vision Daily Briefing.
He thinks that is the real place to play the macro because the lack of intervention from central banks in EM countries means that those markets have true price discovery, unlike asset prices in the US equity markets, which have been artificially inflated by the Fed.
He also said the Fed’s action is the driver of the dollar’s continued