Dollar has hit bottom, China says

“I think the dollar is at its bottom now. There will be very limited space for the dollar to drop further,” he told an academic forum. “The yen is what, I think, has the worst outlook. The yen will continue to drop, unlike the dollar, which will not serve for long as a source of funding carry trades.”

Interesting, but largely useless spin. It gets better...

"The portfolios of both sovereign wealth funds and central banks globally remain dwarfed by U.S. asset managers. It is the latter, as the largest holders of dollars in the world, who will continue to determine the ultimate direction of the greenback,” he said note to clients.

U.S. asset managers determine the direction of the trend? Now you know someone is talking a position.

Source: theglobeandmail.com