When you drill, baby, drill ….

Telegraph UK:

Dollar smashes through resistance as mega-rally gathers pace

HSBC says we are at the early stages of a dollar bull run that will change the world

The US dollar has surged to a four-year high against a basket of currencies and has punched through key technical resistance, marking a crucial turning point for the global financial system.

The so-called dollar index, watched closely by traders, has finally broken above its 30-year downtrend line as the US economy powers ahead and the Federal Reserve prepares to tighten monetary policy.

The index - a mix of six major currencies – hit 87.4 on Monday, rising above the key level of 87. This reflects the plunge in the Japanese yen since the Bank of Japan launched a fresh round of quantitative easing last week.

Data from the Chicago Mercantile Exchange show that speculative dollar bets on the derivatives markets have reached a record high, with the most extended positions against the euro, the yen, the Australian dollar, Mexican peso, the Canadian dollar, the Swiss franc, sterling, and the New Zealand dollar, in that order. The Swedish and Norwegian currencies are also coming under heavy pressure.

David Bloom, currency chief at HSBC, said a “seismic change” is under way and may lead to a 20pc surge in the dollar over a 12-month span. The mega-rally of 1980 to 1985 as the Volcker Fed tightened the screws saw a 90pc rise before the leading powers intervened at the Plaza Accord to cap the rise

Note that this is all achieved on the back of a SINGLE industry, free of any govt programs, and POSITIVE attention (in fact NEGATIVE) attention and given the War on Coal, in SPITE of the ruling admin.
WOW.