Wasn’t it just yesterday when Gary Kaminsky told the desk that a stronger dollar should make stocks rally? What happened?
If you were watching Fast Money on Wednesday you probably remember Kaminsky said the stronger dollar generated new sectors of leadership, specifically, the industrials, airlines and retailers all benefit as the dollar gains.
And it keeps a lid on prices at the pump – arguably the most important influence of all.
Yet on Thursday stronger than expected GDP – a sign of economic strength – sent the dollar lower.
The action in the dollar is definitely all about GDP," says Brian Dolan, chief strategist at Forex.com.
Given the correction that we've had over the last few days, some people are looking at this as a buying opportunity to get back in (risky trades) and sell the dollar on a bounce.
That’s right, echoes Tim Seymour. People are selling dollars to buy riskier assets.
So what’s the trade?