A month ago I was under the impression that the dollar was ready for the next counter trend rally in the ongoing bear market. It's definitely time. It's been over two years since the peak of the last rally. In that time the Fed has cost us 23% off the value of the dollar peak to trough.
Unfortunately the dollar is starting to look like it's ready to roll over again. It seems the Fed is still hard at work devaluing our currency. The actions of this Fed are really starting to worry me. They apparently have no concern for inflation.
Obviously all that matters is to rescue the financial system no matter what the cost to the rest of us. If the dollar breaks to new lows I hate to think what commodity prices are going to do, especially oil and gasoline.
2 months ago