July 18, 2022
Dollar Overshoot = Lower Inflation
The dollar bull market is not over and may even accelerate. One source of support: the U.S. is energy self-sufficient (Chart). As a result, the surge in oil and the rising risk premium on security of energy supply is better for the U.S. than either Europe or Japan. This increases the odds that speculators will supercharge upward pressure on the greenback until something changes.
