Monday, September 6, 2010

Dollar index (equal weight)

The chart below shows the performance of the US dollar versus an equally weighted basket of six other major currencies. 100 = January 1999.

I've posted similar charts before, but this one shows more history than the others. I still want to be positive on the dollar, but I'm getting kind of irritated at this point. The dollar (basis this index) absolutely has to hold these most recent lows and turn higher in the very near future. Looks doable, but it's time to see some action.

It didn't bother me that the yen was outperforming the dollar, hitting all them new highs and all. I've actually been bullish on the nippy for a while now, and have enjoyed its appreciation versus some of the other currencies. But now the Swiss franc is the new nippy? Gimmie a break. Yeah, I get the logic of the situation, but still, seems kinda fishy to me.