Trump announces ‘massive’ trade deal with Japan, tariff rate set at 15%
The US Dollar Index rallied sharply into inauguration day. Since then, it’s been very weak.
Could things get worse for King Dollar?
Today, we share a “weekly” chart highlighting a potential topping pattern
As you can see, the US Dollar peaked on inauguration day at (1). But the broader pattern may be more concerning — a head and shoulders topping pattern.
And recent weakness is raising concerns about a break down perhaps back to support around 100.
Weakness has some worried about the economy and could go hand in hand with falling interest rates. On the other hand, gold bulls don’t mind a weaker Dollar.
Any time King Dollar makes a move, investors (and assets) pay attention. Stay tuned!
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