Yesterday the Fed pledged to keep interest rates in the US low and as a result we should see investors continue to use the dollar as a funding currency for riskier currencies and other assets. It also stated that there are signs that the US economy is improving, providing further cause for investors to pursue riskier assets. Although the dollar pulled back by the end of trading yesterday, it did hit a new high of $1.4845. I’m still long the dollar and I see it going to $1.50. The ECB is starting to get concerned about the strength of the euro, but it hasn’t intervened in the past at these levels.