QE ends, dollar rises, wrong for the day

QE ends, dollar rises, wrong for the day. Yesterday was a horrible day for the portfolio's long Canadian Dollar, British Pound and Japanese Yen positions. The US Fed release all went to script with the end of the Quantitative Easing program. But obviously the market was hoping for something more on the stimulus side, as far as keeping extended bond buying going in an attempt by the Fed to further boost the economy. What did not go as expected for our portfolio was the way the US dollar reacted, instantly surging higher and our foreign currency positions against the US Dollar immediately lower. It was a day which resulted in pain to the portfolio where we cut these trades to stop the losses. Read more... (VIEW LINK)