Willie Williams, director of institutional derivative sales at Societe Generale, also likes the dollar - kind of.
Williams argues that the dollar is in the middle of its range against the euro, and while he thinks the euro eventually will weaken, he suggests waiting for it to move higher before entering a short trade. "The market is now waiting to see if the Federal Reserve is going to step in and do some form of more aggressive quantitative easing," he says.
Williams argues that "for the moment, the world is seeking yield," which is lifting both the Australian and the Canadian dollars as relatively safe, high-yielding plays. "But if I had to pick a choice between the dollar and the euro, I think the dollar is going to attract capital, and I think that the euro over the course of the next month of two is still in danger."
For a trade, Williams recommends waiting for the euro to pop to 1.2400 against the dollar, at which point he wants to sell it with a stop at 1.2600 and a target of 1.2000.
You can watch the discussion on the video clip, starting at 3:36.
MULTI CURRENCIES v The Dollar
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