Forex: The U.S. Dollar Has Been Drifting Lower

The dollar has been continuing to drift lower ever since Janet Yellen removed the word "Patient" last week and inserted a more patient attitude even though the word is not there.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

A Bullish Case For Gold

Traders are bearish on gold (SPDR Gold Trust ETF : GLD) because they are bullish on the dollar and they believe the Federal Reserve is going to raise rates. When they realize that they are not, and they have to rush to unwind these short trades and get back out of the dollar...if you thought gold went up a lot when the Federal Reserve did QE1 and QE2, wait till you see what is going to happen when they do QE4.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Fed`s Rate Hike Fantasies

I think it is very likely that we are going to start to see weaker non form payrolls numbers, we are likely to see the unemployment rate notching up, which means those rate hike fantasies are going to be pushed off further and further into the future until they are ultimately obscured by the reality of QE4.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.