Today’s Chart of the Day was shared by @J4_doji. It's a chart of the US Dollar Index over the past 14-months. Today was the worst day for the Dollar in six months. After getting crushed last year, the Dollar has spent the majority of 2021 quietly mean reverting higher. But as @J4_doji points out, it appears that mean reversion is complete and the Dollar is now resuming its downward trend. At this point, a test of the January lows is likely. Further weakness from the US Dollar would be a nice tailwind for risk assets across the board including, Stocks, Commodities, and even Cryptocurrencies.
Chart of the Day - Friday, May 7th, 2021
May 7, 2021
