From the Desk of Ian Culley @IanCulley
Dollar bulls hold the line.
The US Dollar Index $DXY is clinging to the 100 level, refusing to let go despite new 52-week highs for the British pound and a steady rise in the euro.
I’ve laid out numerous ways to play the dollar in recent months and what will confirm a DXY breakdown. None of that has changed.
But one chart caught my eye.
I was struck over the weekend by the resemblance between the commercial position in gold and DXY.
Check it out…