Today's U.S. dollar action reminds me of the words of Alfred, Lord Tennyson.
He clasps the crag with crooked hands;
Close to the sun in lonely lands,
Ring'd with the azure world, he stands.
The wrinkled sea beneath him crawls;
He watches from his mountain walls,
And like a thunderbolt he falls.
Is this a one-day correction, or a taste of what's to come? What were dollar bulls thinking, anyway? They got squee-ee-ee-eezed!
Gold held up nicely in the latest dollar rally and rebounded hard today. We'll see.