Only 2.3% are Dollar Bulls now. Count me one…
2.3% are bullish the dollar. I’m one.
Majority are always wrong. Sorry…
Good luck
EDITING TO SAY THIS IS WRONG. ARMSTRONG MISINTERPRETED THIS, and I’m quoting Armstrong.
Fake news. Nothing to see here?
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Im confused. The Bloomberg article says this..
The Bloomberg dollar index sank 8.5 percent last year amid vibrant growth abroad and the prospect that other central banks would join the Federal Reserve in tightening policy. It’s down 2.3 percent in 2018, partly on concern over U.S. budget and current account deficits.
It said its down 2.3% this year, not that it’s down TO 2.3%
Unless I’m missing something, this article is garbage.
“Bloomberg has reported that dollar bulls are nearly extinct down to just 2.3 %.”
It says down TO 2.3% so Chuck was right (unless I am also misinterpreting this sentence).
I mean if you go to the actual article on the Bloomberg website, it doesn’t say that.
Wow, I thought Chuck’s link was the Bloomberg article. Anyways, I checked out your link below and it does say it’s down 2.3%. Armstrong must’ve misinterpreted then.
Armstrong Economics version of what Bloomberg are saying is different to what the actual article says (the paragraph I put in my post). As I say, Im confused.
Oops. Thanks for pointing this out.
https://www.bloomberg.com/news/articles/2018-03-20/behold-the-dollar-bulls-a-rare-breed-roaming-global-fx-markets
No worries. I would normally just accept the quote in the article, but it sounded quite extreme, so thought I’d research it then check back in history to see if such a low reading has any definite implications. The dollar usually loses 30 to 50% of its value after its cycle high, regardless of how many bulls or bears there are.