'Follow the Dollar' - Art Cashin
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With rumors in the market of hedge fund blow-ups in the carry trade and sharp spikes in the yen, UBS Art Cashin Director of Floor Operations at the NYSE told CNBC viewers earlier Tuesday to "follow the dollar."
Cashin said the stock market has two masters right now - the bond market and the currency market.
The floor trader told traders to keep the DXY on their screens. "If the dollar is weakening, odds are the the yen is strengthening and that will put pressures on stocks."
VIDEO
Cashin said the stock market has two masters right now - the bond market and the currency market.
The floor trader told traders to keep the DXY on their screens. "If the dollar is weakening, odds are the the yen is strengthening and that will put pressures on stocks."
VIDEO
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