I am not sure if QE can be fully baked in, because the actual buying is a material force that continues to push the currency down. Beginning of a hikng cycle in US could be the catalyst for the next leg down, while a position squeeze reamins the biggest upside risk.
CIO, HonTe Investments. Ran global macro at JPM. Yahoo! Finance Contributor. Ph.D. in Mathematics. Author, The Next Perfect Trade. No investment advice.
