Falling Dollar

Here comes the rain again
Falling on my head like a memory
Falling on my head like a new emotion
--Eurythmics

One of the last things market participants probably expected in the midst of 'strong' economic news is a weakening dollar. After breaking long term support in the 91-92 zone, the Dollar Index is marking 3+ yr lows.

Technically, there's a lot of space between the current print and new support.

Although currency movements can be difficult to interpret, inquiring minds are wondering what dollar traders are sniffing out. Inflation? Trade wars? Weakening US global position?

Dunno cookmo. Do know that weakening dollar is a tailwind for gold priced in USDs. As such, I'll be keeping half an eye on this one.

position in gold