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Dollar sinks to more than a two-year low; Goldman says to get long

Published 08/29/2017, 09:38 AM
Updated 08/29/2017, 09:38 AM
© Reuters.  Dollar sinks to more than a two-year low; Goldman says to get long
  • An overnight North Korean rocket launch is hitting stocks globally, but it's not enough to arrest the strong downtrend in King Dollar, which is off another 0.4% to its lowest level since early 2015.
  • The dollar's slide began at the start of this year. Pick your reason, but one decent one - the Fed then was the only hawkish central bank around. Two rate hikes later, investors are questioning whether the Fed might move to the sidelines for at least a bit while other central banks take up the hawkish mandate.
  • Goldman for years has been the biggest U.S. economy bull among the large research shops, and it's not giving that up. The bank's Mike Swell fully expects the Fed to continue with a string of rate hikes, and - while acknowledging that long dollar has been quite the pain trade - says now's a "very, very attractive" time to buy greenbacks.
  • ETFs: UUP, UDN, USDU
  • Now read: Deja Vu


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