Has the dollar bounded from mid-December’s lows with such seeming feistiness, only to punk out without taking on the scrawny pocket of supply highlighted in the chart? It certainly looks that way. And although this will not necessarily doom the dollar, it should temper our enthusiasm for the buck in the days, and perhaps weeks, ahead. To negate any suggestion of cowardice, DXY would need to pop above the two peaks etched in the last few days sometime very soon.