Dollar bulls ceded more ground last week, further thwarting Powell’s efforts to raise the cost of dollars so that they are no longer effectively free to speculators and money-changers. DXY’s moderate slippage left it somewhat shy of wrecking an incipiently bullish pattern via a dip beneath the point ‘C’ low; however, the direction and rate of decline were hardly encouraging. The dollar remains on a ‘mechanical’ buy signal in theory, but the strategy no longer looks likely to produce a winner.  If the plunge takes out C=99.59, we should brace for more slippage into the mid 90s.