“US dollar index hitting 20 year highs.”
It has been called the least ugly stepsister by pundits.
it was expected that the rush would be into dollars from other countries to preserve value and then, the dollar’s demise.
I think Powell is telegraphing it.
You can’t replace something with nothing. A favorite saying for currencies traders is “The dollar is the prettiest dog in an ugly dog contest.”. “But,but,but the yaun...”. It’s been a reserve currency for about 7 years and is still only about 3%. Ask yourself why.