The internet is really buzzing lately with the recent decline of the dollar. The fall below 100.00 has been quite a triggering experience for certain people. Something about round numbers sets off the Doomers although I never quite understood why. Wake me up when it hits 66.666 and that will be newsworthy. Anyway, the gold afficianados and metals promoters are coming out of the woodwork in large numbers and really amping up the message that the dollar is either A) crashing  B) about to crash or C) Its already done like dinner but we just have not recognized the reality yet.

I am here to tell you its none of the above. The dollar is merely correcting its stellar run during 2021/2022 when it rode 25 points vertically over a period of a year and a half. You can see this in the chart I have drawn. Price is currently near a .618 retrace of the move. So nothing much to notice really. Nothing unusual anyway. This pullback is healthy and well within reason given the sharpness of the prior rise. As long as price holds above the support line we should be anticipating it will turn around and go right back up in the coming months. So be careful about taking advice to invest in products that are profitable when the dollar is in retreat as this decline will not last much longer.