NY Open: Retail revisions give dollar some gains
The dollar is on something of a streak, with today's revisions to the October US retail sales report giving it a boost despite slightly softer November numbers.
The market got a bit ahead of itself in positioning for further strength in the euro and weakness in the US dollar in Q2. But after the enormous correction and USD rally, we look for the USD to find a top in the second half of the year and to begin heading lower again. The world can’t afford a strong dollar and once the Trump tax and fiscal stimulus fades, the US will have a hard time finding the USD buyers to offset it enormous external imbalances.
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