Loading ...One of the major problems with the Dollar is there is no alternative to trade, billions turn over every day in the FX mkts and they have to have a ‘story’, like Euro = bad Dollar = good, so u sell Euro/buy Dollar…They have run out of Good currencies, so now focus on the least bad, which is still the Dollar, for now.
The Euro is a basket case and so is the Pound, but that could change with a better PM/Government round the corner…maybe, the Yen can be Good but the mkt is too small and that is even truer of the Swissy and they have super negative rates. Many yrs back Gold acted as the last man standing, but that is too small and now forgotten….however it will change out of desperation….
But short term the dollar is still King, or that is the knee jerk reaction, see today….Trump may well change that and then Gold will fly.