This morning I've read an interesting update after GDP:
(source: Dow Jones Newswires).
I'm wondering what you guys think about this suggestion?
QuoteDisliked(..) The euro-dollar's fairly range bound price action lately, in spite of important economic data, has some analysts thinking that the major trading strategy that has emerged in this crisis - what is good for the U.S. economy is bad for the U.S. dollar as traders seek riskier currencies - might be on the decline.
"I do think, at the margin, we're starting to see this whole safe-haven reverse relationship loosen," said Nick Bennenbroek, head of currency strategy at Wells Fargo & Co. in New York.
"The core of this report shows we're definitely seeing a slower pace of economic contraction," he said.
While the dollar is gaining currently with a flight to safety, "we are not far from the situation where good economic news for the U.S. could be good for its currency," said Bennenbroek. (..)
I'm wondering what you guys think about this suggestion?