Currency investors are starting the new year in a decidedly good mood, and that's giving one strategist trading ideas.
"Where we are starting 2013, I think a lot of the uncertainty has been taken off the table," said Willie Williams, a director in institutional derivative sales at Societe Generale. "Therefore, the need for the dollar to be a safe haven asset has been reduced."
That's a problem for investors who are long the dollar, since if Williams is correct, they are unlikely to reap the benefit of any dips in risk appetite. Instead, he said, the dollar is going to be trading on other factors—like relative interest rates—and on that score, there are better opportunities.