‘Pain Point’: Nomura’s McElligott On Dollar Squeeze, Gamma Drop-Off

‘Pain Point’: Nomura’s McElligott On Dollar Squeeze, Gamma Drop-Off

The dollar jumped the most since March on Monday before eventually trimming gains. The initial surge in the greenback was attributable in part to a mini-panic triggered by a mutated variant of COVID-19 spreading virtually unchecked in the UK. Travel restrictions imposed by a laundry list of nations raised the specter of a food crisis in England, while still fraught Brexit talks added insult to injury for the pound, which plunged. Oil dove, triggering severe weakness in Norway’s krone, which
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