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Is The "Other" Most Crowded Trade Of 2015 Starting To Crack?

With the recent collapse of Treasury yields, the massive short position in bonds has been dramatically unwound (though there is still plenty left). However, there is the other "most crowded" trade in the world - Long The USDollar - that remains... but is starting to show some cracks in the armor. Despite the highest levels of Short EUR, Long USD since the very peak of the EU Crisis in 2012 and still massively long net dollar positions across sell-side OTC indications and CFTC exchange-traded positions, the last 2 days have seen the biggest drop in the USD Index since September 2013... is the world's most crowded trade about to unwind?


No one has started to fold yet...


As the USDollar appears to be stalling post QECB...


This should not be a total surprise as Goldman appeared to call the top in the USD last week

Charts: Bloomberg