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Goldman Sachs Cools on Long-Dollar Trades as Reflation Wanes

  • Closes long dollar versus euro, sterling, yuan trade
  • Uncertain outlook for U.S. expansion, Trump weak-dollar bid

Goldman Sachs Group Inc. has finally dumped the dollar.

The U.S. investment bank closed one of its top trade recommendations for 2017 -- long-dollar positioning against the euro, the sterling, and the Chinese yuan -- citing a slowdown in the reflationary momentum in the U.S. economy.