Dollar bulls to finally get the upper hand?
The FOMC shifted towards a hawkish stance like a bolt of lightening in the FOMC Minutes but US dollar strength has been like a slow, rolling storm.
The dollar reaction has been so weak, that it's tempting to believe it won't come. I think it's only a matter of time but it needs to happen soon.
Today the euro looks like it's finally breaking down, along with gold and the Australian dollar but there's still work to do against the yen.
In theory, these moves should still have a long ways to go. The Fed isn't backing down from talk of 2-3 rate hikes this year and another handful in 2017. It will never happen because the stock market would break but if they manage to deliver one in June or July, you have to give them a bit of a benefit of the doubt.
At some point real money will get behind the dollar again and today's a good place to start.