G‐20 bust in the making?

Does today’s price action foreshadow things to come after the G‐20 meeting? Or is it another chance to sell the dollar again at a higher price?

Right now, we are going with the former because we think the G‐20 will be a total bust. And given the penchant for all governments of late to crackdown on entrepreneurship and penalize the competent to carry the rest of the pack, anything that flows from the G‐20 seems highly unlikely to get economies moving again.