Just speculate, if I'm the FED and owns 50%+ percent of U.S. national debt. I would trash all other currencies, such as EUR, and jack up U.S. dollar big time. Steal of the century.
Still looks like 111 or less. Only problem is the high put interest from 110 down on feb will probably minimize any downmove today.
Good new is march spy shows magents down lower around where the right shoulder would need to come in for the longer term ihs. So we should get the pullback to 107 if it stays this way.
The Fed raises the discount rate to force banks to push up the rate of interest paid to their depositors. The result is that "foreign investors" earn more interest and are persuaded to leave their money in US banks. The unintentional consequences are? They have no choice in the matter. It's US or them. They win because the last thing they want is foreign countries fearful that the US is no longer a safe harbor.
Just speculate, if I'm the FED and owns 50%+ percent of U.S. national debt. I would trash all other currencies, such as EUR, and jack up U.S. dollar big time. Steal of the century.