Wednesday, March 18, 2015

Like a Thunderbolt, the U.S. Dollar Falls!

Today's U.S. dollar action reminds me of the words of Alfred, Lord Tennyson.

He clasps the crag with crooked hands;
Close to the sun in lonely lands,
Ring'd with the azure world, he stands.

The wrinkled sea beneath him crawls;
He watches from his mountain walls,
And like a thunderbolt he falls.

(Updated chart)
Is this a one-day correction, or a taste of what's to come? What were dollar bulls thinking, anyway? They got squee-ee-ee-eezed!

Gold held up nicely in the latest dollar rally and rebounded hard today. We'll see.

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