Wednesday, January 24, 2018

It took less than 24 hours for dollar to fall from above 90 on the index to a handle of 88

It took just 12 days for the Dow to go from 25,000 to 26,000, but only 24 hours for the dollar to fall from above 90 to this evenings low of 88.97.

Much of this of course stems from Treasury Secretary Steve Mnuchin's comments from earlier today that a weak dollar is now part of U.S. policy.  However the White House may be biting off more than they can chew since technicals show that there is very little resistance between here and the 80 level, and that further erosion of the currency could drive up commodities such as with oil, food stuffs, and of course...

Gold and Silver.

Live 24 hours gold chart [Kitco Inc.]

Live 24 hours silver chart [Kitco Inc.]


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