As anticipated, the countertrend rally for the U.S. Dollar sputtered out in the 1st quarter of 2011 and has returned to it’s terminally ill ways. After making a triple top in the 88-89 area last summer, the U.S. Dollar has made lower highs and lower lows and finds itself teetering at key support. Keep in mind this has been happening during a series of fundamentals that were suppose to make it’s supposed “Safe Haven” status alluring.
As previously suggested, I see new lows below 70 on the U.S. Dollar Index by 2012.
Good Night Gracie!