
‘There Are Still Too Many Dollars’: Goldman
So irrespective of what happens between now and the close, the overnight action clearly indicates that the market is not prepared to buy into the Trump administration's efforts to walk back the weak dollar rhetoric.
Everyone knows what's going on here. "Steven Mnuchin used to run a hedge fund, so he knows how markets work [and] he's saying on CNBC that he wasn't trying to move the dollar on Wednesday and that his comments have been consistent, but c'mon," Bloomberg's Cameron Crise wrote on F
Not so if you look at the supply constraints developing in the Eurodollar market which dwarfs the cta’s and hedgies in size. Time to short dollars was a year ago. Although techs show there’s still some room to run, perhaps Goldman is publicly pushing shorts against which to accumulate some longs? Naw they wouldn’t do that, would they?…lol