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“it has been said that the Euro is dictating price to the PM’s more than the Asian currencies or the pound. ”
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I agree with that part. Noticed it long ago. Euro up Gold up. Euro down Gold down. I think the USA has always been subservient to Europe since 1913. Decades ago I used to call the USA the United States of Europe. Note we have a trade deficit with them also. $130 billion I heard Trump say. Its probably a lot more when you add other things.
I heard the Euro economy was slowing again, so it makes sense that they dropped their Euro for stimulation. They seem to alternate lower currency stimulation back and forth with the USA. Helping us hurts them and vice versa. So they take turns knowing that helping the USA is most important, but at the same time, Europe can’t take too much high value Euro pain. Europe et al have to suffer in this major reversal going on but they don’t want to. 🙂
Bottom line the USA dollar HAS to go much lower against all currencies to take back even just half of what this country lost to those shithole countries.