Cracks In The Carry Trade

Earlier on Wednesday, we noted that multiple crowded trades have been under pressure of late and one of those trades is obviously the overcrowded short in the dollar. The greenback, having put in a lackluster performance in 2017 and having had the rug pulled out from beneath it earlier this year both by the Trump administration's trade "strategy" and by the deteriorating U.S. fiscal position (which is expected to put America in worse shape than Italy by 2023), has gotten a boost lately from a p