On CNBC's "Fast Money Halftime Report," Scott Nations said that we are in the situation of the U.S. dollar versus zero interest rates policy and the U.S. dollar is going to lose. He also doesn't expect any safe haven buying of the dollar.
Nations wants to take a short position in the U.S. dollar and he wants to sell the September contract for the Dollar index futures at 96.75. His stop loss would be at 97.85 and his initial target price is at 95.
If the trade goes in his favor, he's going to move his target price and stop-loss because there is no good news for the U.S. dollar right now.
Related Links:
Stock Market Update For The Week Ahead: 'Continued Strength'
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
