The dollar is down almost 10 per cent since the beginning of the year. Yes, it has fallen from a very strong position, but the drop might also reflect growing international unease about the direction of American institutions of government. Today on the show, Rob Armstrong and Katie Martin discuss the weakening of the dollar, and how traders are betting on it. Also, they go short not having joined a hedge fund and short a cup of matcha. 

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You can email Robert Armstrong and Katie Martin at unhedged@ft.com.

Read a transcript of this episode on FT.com

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