Dollar Shorts Washed Out Ahead Of Fed

I've been on at some length recently about the dollar, and specifically about recent dollar strength, which was unrelenting for eight (or nine, depending on your preferred greenback gauge) weeks in a row. The move was driven by familiar catalysts, including rising US reals, favorable rate differentials and forward policy expectations, as the Fed's "higher for longer" mantra gathers begrudging adherents as reflected in, for example, less aggressive rate-cut pricing for 2024. But oil's a factor