172 days ago • Posted by Charles-Henry Monchau

The dollar index (DXY) at a "make or break" level. Goldman strategists are sticking with their pro-risk $ short

Goldman FX strategists remain bearish dollar for 3 reasons: 1) monetary and fiscal policy will likely be responsive to a further deterioration in US growth, which may support; 2) the fact that near-term growth risks are most acute for the US may mean the Dollar can weaken even if equity and commodity markets move sideways or moderately lower; 3)  fund flows are now showing rotation into EM FX, and we would be reluctant to back away from USD shorts with that important tailwind now in place - source: The Market Ear 

Dollar index (DXY)