HSBC forecasts lower dollar in 2016, as I did months ago

HSBC is now forecasting the U.S. dollar to decline in 2016. I made this call months ago.

They're catching on to some of the arguments I made here and also some of the things that I teach in my Forex course. Namely, that rising interest rates are bearish, not bullish, for the dollar. (I'm not sure  they really understand why, however.)

Anyway, I am building a short dollar position at the current time. This trade would have been doing much better right now were it not for all the China related panic and falling commodity prices, but people are buying dollars for all the wrong reasons, I feel.

Patience is the key, here.