Do we have one more push lower in the dollar before a big rally? Or is the bottom in?

We suspect we will see one more push lower in the US dollar index. But, it likely depends on whether or not stocks hold up. We remain open to the idea of a major risk-bid powering the dollar higher—which is our scenario for the next rally after a push down toward 95-level. However, said risk-bid could come at any time given the macro/political backdrop.

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