From the Desk of Ian Culley @IanCulley
King Dollar is reclaiming its throne.
The US Dollar Index $DXY hit a new year-to-date high on Monday, punishing other global currencies.
The euro undercut its June pivot lows. The pound dropped for the fourth consecutive session. And the yen is well within reach of its lowest level since the summer of 1990.
Other major currencies don’t stand a chance against USD strength.
If you can’t beat them, join them!
The Swiss franc might be the next to succumb to this old proverb as it prepares to bend the knee.