Back in March, when currencies were gyrating wildly, DXY shot nearly 10% higher in a little over a week [see: Currencies to the Rescue] to rescue stocks – which sorely needed a rescue at the time. But, it became very overbought. Our downside target of 94.20 remained in place.
The 91.358 target was even more important tha 94.20 for a number of reasons. Now that we’ve reached it, what can we expect for the dollar and other major currencies?And, what does it mean for bonds, gold and equities?
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