Brief update on the US dollar index
USD/DXY is thus far pausing at noted resistance at 105 and pulling back a bit. The run up in Treasury yields is theoretically supportive, but it could also be the result of impending pressure to come upon USD. Either way, this remains the counter-market to many others and thus far it holds below a key level.
My guess is that USD will go down until elections – easiest way to keep rally going. May be aided by a cut or two.
IMO the Fed is dying to cut but doesn’t want to clown itself to the public with this latest inflationary squall kicking up. So it opens a relief valve out the back end with monetization operations.