Regardless of the source, our holiday greetings go out to the global titans of reactivity. We’ve been making the USD short call for the last three weeks (proactively preparing our clients for the FOMC meeting), and it’s nice to get the free advertising. As a reminder, we had our critical “Trend” line support for the USD break a few days ago (see chart).
The US$ is down -11% in less than a month. This isn’t the etf for Kazakhstan… or is it? This is the world’s “reserve” currency chart – “Heli-Ben” and Hank support the house of Goldman’s message today – they always have.
“Re-flation” of the SP500 continues… and no one believes in it yet.