GS on the USD, more of a summary than anything new so I'll keep it brief. Interview with GS economist via Bloomberg
- dollar moves are being driven mainly by US-China trade war & and flight-to-quality in Treasuries
- not so much by the outlook for the Fed
- GS saw portfolio outflows from almost every country in August except the US
- all of the inflow into the US was into fixed income
- With an improved outlook for US/China today because better prospects for global growth tend to lift Treasury yields and weigh on the dollar
But:
- USD softness will likely be relatively short lived
- could be continued positive news in coming weeks but hurdels to a long lasting agreement are high … "we are on the path of de-escalation"