Citi Cuts Dollar: Why the Ledger Is Pricing a Weaker Greenback Before Washington Does
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The forward question is not whether the dollar will fall. It is whether it falls because inflation is under control or because fiscal pressure is winning. Those are opposite regimes with opposite implications for duration, gold, and crypto. Citi has given us the first half of the answer. The ledger still has to deliver the second half. Until stablecoin flows, exchange reserves, and the long end of the Treasury curve all confirm the same story, the dollar call remains a forecast, not a fact. The next two weeks will tell us which one it is.