Stocks have been under pressure consistently since Q1 last year. That was 20 months ago.
That’s precisely when the United States Dollar stopped falling and started to rise.
And this wasn’t just against the Euro, which represents 58% of the Dollar Index, we saw Dollar strength across currencies from all over the world.
The US Dollar was the only safe haven asset this year. It wasn’t US Treasury Bonds, it wasn’t Japanese Yen and it certainly was not Gold.
The only safe haven was the US Dollar. [Read more…]