The New CS Board

[jumanji0881]

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Why Record US Port Congestion May Lead To Historic Trade Deficit Blowout, Dollar Plunge : https://www.zerohedge.com/markets/why-record-us-port-congestion-may-lead-historic-trade-deficit-blowout-dollar-plunge

Excerpt:
While it should come as no surprise to those who have been following our reporting on the epic bottlenecks and congestion across West Coast ports, Standard Chartered's chief G10 FX strategist Steven Englander makes a remarkable observation, showing that based on the very close correlation between seasonally adjusted inbound containers and the US goods trade balance, then US is about to see an unprecedented explosion in its trade deficit which would push it to a record high, well north of $100BN. This, in turn, could have a profoundly negative effect on the US dollar and as Englander concludes "if the deficit is as wide as containers indicate, the USD downside risk may become clearer, especially with Fed commentary weighing on yields."