Goldman: Dollar Subject To “Quick Upside Repricing,” Structural Strength

In "2-Year Yields Highest Since 2009 While German Yields Argue With Soaring Inflation," I said the following with regard to rate differentials in light of 2Y yields hitting their highest intraday levels since 2009: [This should] certainly lend credence to the structurally strong USD story. As the Wednesday session wore on, the dollar lost a bit of its luster and although this is one of those times when we should probably avoid our natural tendency to ascribe causes where there are none, trader