The direction of the March U.S. Dollar Index into the close will be determined by trader reaction to the 50% level at 90.340.
Is currency debasement good for the dollar? Gold, the proven hedge for inflation, meanwhile, took another dive for its worst two-week outing since November. The dollar’s rally on Friday was particularly mind-boggling given the retreat in yields on the U.S. Treasury’s -year note - which had been the catalyst for the greenback’s strength since the start of the year.
“Coopetition” is an ungainly term at the best of times. But it appears that’s what’s happening among Swiss stablecoin issuers.