The dollar smile: do you use it?

The dollar-smile theory: the dollar strengthens both when the US economy booms and when global fear peaks, and weakens in between. It's a neat frame for a messy reality.

Does it match your experience?

• where the dollar sits on the smile now, in your view
• how the theory helps or hurts your trades
• the regime where the smile broke down

The DXY guide and risk-on risk-off guide supply the underlying mechanics.