..last year we spoke so much about the demise of the dollar...

..last year we spoke so much about the demise of the dollar (which every gold bug was hopeful of)

The US dollar is getting even stronger:

The Bloomberg Dollar Spot Index has gained 7.4% in 2024, on track for its best annual gain in 9 years.

The index has risen 6.9% over the last 3 months and hit its highest level since November 2022.

It's clear now more than ever, markets are pricing-in a rebound in inflation next year.

All while the Fed has cut rates by 100 basis points since September 18.

Markets are pricing-in higher for longer Fed policy.

https://x.com/KobeissiLetter/status/1873559261571072286