The dollar is down about 11% or so against the euro and some other currencies as well. Shishir Yeah, this year I mean the last 15 years it's up monstrously, right. But did you worry that it's gone down or you think it was overvalued and, and as a result of it having gone down, you think the chance of a Plaza Accord, an orchestrated effort to take it down even further is unlikely.And you think the dollar decline now is okay. It's adjusted appropriately. I think you have to start, David, with a with a point o ...

Market Trends - Rotation from gold into Bitcoin is being discussed [1] - Stabilization of the U S dollar and its impact on global capital flows are analyzed [1] - Relationship between volatility and bull markets is explored, noting that higher volatility can signal the start of a new bull cycle [1] Investment Opportunities and Risks - Capital rotation and long-term market outlook are considered [1]

Market Trends & Capital Flows - A significant asset allocation shift away from the US dollar in international portfolios was observed, particularly into European equities, leading to their outperformance [2] - This asset allocation shift was most aggressive from March to June, with Asia following later, peaking in June [3][6] - The US dollar has stabilized in the last six weeks [7] Monetary Policy & Economic Factors - The Federal Reserve's actions will define the next move for the US dollar [3] - The Fed faces a tricky balancing act between unemployment and inflation [4] - The market is closely watching the labor market to determine if the Fed will cut rates [7] - A hawkish rate cut is expected in September, but the Fed is unlikely to commit to a multi-cut path due to inflation concerns [9] - Tariffs are expected to increase again by October, potentially impacting inflation [8] US Dollar & Government Influence - The US Treasury Secretary has expressed a desire for a weaker US dollar [10] - The US influence on the dollar is primarily through verbal interventions rather than direct control like China [11][12] - The cyclical state of the US relative to the rest of the world will ultimately determine the dollar's value [12] - The tariff push is expected to be paid for mostly by consumers, potentially leading to a decrease in consumption towards the end of the year [13]