The US Dollar Index is breaking down and preparing to take out 52 week lows. That this dollar weakness is occurring in the face of numerous MENA geopolitical disturbances, as well as the unprecedented tragedy in Japan is most telling. As the reserve currency, the US Dollar would typically be undergoing a strong move higher as a safe haven bid. The fact that the US Dollar is continuing its slide in the face of these events is the Canary in the Coal Mine. The days of the US Dollar holding reserve status are over.
The risk of an Armstrong type Waterfall event in the US Dollar is extremely high- the announcement of QE 3 may well be the dagger in the heart of the US Dollar.
The risk of an Armstrong type Waterfall event in the US Dollar is extremely high- the announcement of QE 3 may well be the dagger in the heart of the US Dollar.
Snapshot
| Summary | One-Year Chart INTERACTIVE CHART | ||
|---|---|---|---|
| Value | 75.56 | ||
| Change | -0.309 (-0.406%) | ||
| Open | 76.04 | ||
| High | 76.46 | ||
| Low | 75.54 | ||
