Dollar is conducting an investigation

Traders, like detectives, must ask a question about who benefits
In 2018-2019, when the US dollar was growing steadily, and Donald Trump was talking about the drawbacks of a strong local currency, investors were discussing the possibility of joint intervention by the Fed and the US Treasury to hold the USD bulls back. They estimated the resources that Steven Mnuchin and his colleagues can afford, they projected the levels where they should start selling the greenback. The pandemic has proved that things are much simpler. Low Treasury rates and steadily rising US stock indexes are the major growth drivers for the EUR/USD. The euro-area positive PMI data are just another reason to sell the US dollar.
Dynamics of Misery Index

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