From the Desk of Ian Culley @IanCulley

The dollar has gone from slinging cheese to lobbing cookies.

Sellers finally got ahold of the US Dollar Index $DXY on Tuesday, sending it on its steepest single-day decline since October 2022.

Recall what followed for the dollar…

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From the Desk of Ian Culley @IanCulley

The US Dollar Index $DXY is still dealing like an old-school ace on the mound.

I don’t care what stock market bulls or technology investors want to believe.

The buck has been lights out since July.

And just because it found itself in a bit of trouble last week doesn’t mean it can’t retire the side…

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From the Desk of Ian Culley @IanCulley

The Bank of Japan is loosening its grip on the Japanese benchmark yield.

And the dollar, the euro, and the pound are ripping to fresh highs versus the yen.

Yes, the USD/JPY is off to the races – again.

But where can we define the next logical upside objectives?

Let’s dive in…

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From the Desk of Ian Culley @IanCulley

Economists, columnists, and pundits are calling for an economic recession and even the possibility of deflation. 

Yet the US dollar is consolidating above a critical support zone.

Nothing bearish about that!

In fact, it’s standard price behavior within an ongoing uptrend. 

Sure, the pundits might be right. But both scenarios involve a swift decline in the US dollar.

And that’s simply not what’s happening today.   

In fact, forex markets are providing new opportunities to buy US dollars and sell other major currencies…

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