A string of failed breakouts in USD/CAD, USD/CHF and EUR/USD despite soft US inflation and big declines in Treasury yields should have traders questioning whether dollar dominance is over.
I doubt we’ll be seeing too much weakness in December’s NFP figures later today, and that could prompt another bid for the USD. But with Trump likely to revive his disdain for a strong dollar, perhaps a pullback is not too far away.
The U.S. Dollar just finished its strongest quarter in nine years, and stock prices remain elevated, as well. This sets the stage for a volatile 2025 as explained in this webinar.
