It looks like the dollar is taking a beating at least partially because Russia and OPEC countries are shifting their exposure to dollars by at least a few percent. A twenty-four month low in OPEC’s exposure to dollars is met with a twenty month low in the value of the dollar. It’s definitely hard to argue against their being a solid connection. And it appears it may be the number one tool that Iran will have against the U.S. Probably more effective even than funding Hezbollah.
Anyone want to put money on our going into Iran before they get a chance to shift any more? What about Russia? Just like old times. Actually, I vote for another space race instead.