Uncle Buck, reviled the world over as the worthless piece of debt paper denoting a nation of consume-a-holics that he is, just refuses to die. Take a look at the monthly chart and tell me if this is a dead currency (compared to other junk paper). The euro is not going to be a savior - that is mainstream thinking, the merit of which we will see once Europe begins unwinding in earnest. Oil? Yes, it's a potentially good play in the $80-$100 a barrel range, given the inflation policy yet to come.But this bull horned circus - euros, oil, etc. - staked its claim on being the anti-dollar. Meanwhile the anti-currency (not just anti-dollar), gold, bides its time out in the wood shed. The dollar has become a player in the casino at the least and it is demanding a little respect. The red dotted resistance is strong, but the 80/81 range could be tested before all is said and done. Perhaps after our expected interim short term correction.
