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Cool Video: Bloomberg TV Clip-Dollar Developments

Bloomberg Cool Video

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The US dollar was sliding as I joined Vonnie Quinn and Shery Ahn on the Bloomberg Markets show.  I tried making the case, as I have in recent posts, that the dollar’s rally in the first half of the month had left it over-extended. Most of the major currencies were outside of their Bollinger Bands a week ago and had begun correcting since August 15.

Reports of President Trump’s criticism of the Fed’s policy emerged yesterday, followed by his repeated claim that the EU and China are manipulating their currencies and the dollar’s downside correction accelerated. Many short-term market participants were caught leaning the wrong way. Recall that as of August 14, speculators in the futures market were net short euros for the first time in a year.

The clip runs for about 2.5 minutes and can be found here

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Marc Chandler
He has been covering the global capital markets in one fashion or another for more than 30 years, working at economic consulting firms and global investment banks. After 14 years as the global head of currency strategy for Brown Brothers Harriman, Chandler joined Bannockburn Global Forex, as a managing partner and chief markets strategist as of October 1, 2018.
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