Inflation induced rate differentials over nominal exchange rates drove a steady (almost uniform) overvaluation of the Central European Currencies vs. the USD. With present premiums around +10% a swift, near term correction is ever more likely. LONG USDHUF, USDPLN, USDRON, USDCZK

This part of the USD rally might be over. – December 06 , 2023
Have a short bias on USD now for a while. Will be back to