Steve Pearson
Steve Pearson
assume dollar fall fed position raising start stops structural support trade transition wrong
It's wrong to assume that the dollar will start to fall as the Fed stops raising rates. What we could see is a transition to a structural support for the dollar as the trade position improves.
defying dollar eventually external fear growth improved lead trade
The story of 2005 was the dollar defying an overwhelmingly bearish consensus. The dollar has little to fear from a slowdown in U.S. consumption growth as this will eventually lead to an improved external trade position.
backdrop dollar impact knocked pause survey weaker
The impact of the weaker ISM survey has knocked the dollar lower. The backdrop for the dollar is that it's just consolidating around here. It's a pause for now.