The Dollar at the Breakout Line

The dollar has spent years doing almost nothing — in a way that matters enormously.

Since the 2022 spike toward 114, the Dollar Index has neither collapsed nor resumed a durable bull. It has been trapped in a wide band, roughly 96 to 102, turned back again and again at the 101-102 ceiling and rescued again and again in the mid-to-high 90s. Range markets are boring until the moment they aren’t. This is that moment.

The level

DXY is printi…