I just shake my head at the US dollar bulls. they keep saying for the last 6 months that the US dollar will go up but keep getting it wrong wrong wrong. The US dollar fundamentals are terrible - countries with the lowest inflation will lower interest rates first? Now does the US have higher inflation than Europe or the UK??? US inflation is much lower - the UK still has inflation near 10% so zero chance of lowering there while US is close to 5% - basic maths. common sense says inflation will hit 2% quicker when it is at 5% for the US compared to near 10% for the UK - for the UK to get to 2% will take a long time. the US led on the inflation going up last year and is now leading with inflation going down - Europe and the UK peaked with inflation a lot later - somehow US dollar bulls are a bit slow to get this
There will be pullbacks along the way but the US dollar is going lower for a while yet - if anybody doubts me i suggest having a look at the US dollar monthly chart - the bullish bar from 2 months is about to be engulfed by a bearish bar
Here is the charts of the euro and GBP weekly charts in a channel - lots of space to get to the top
There will be pullbacks along the way but the US dollar is going lower for a while yet - if anybody doubts me i suggest having a look at the US dollar monthly chart - the bullish bar from 2 months is about to be engulfed by a bearish bar
Here is the charts of the euro and GBP weekly charts in a channel - lots of space to get to the top
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