On March 22, the Fed raised the rates by a quarter-point and the Euro started losing ground against the U.S. dollar, dropping 150-plus pips in less than an hour.
According to the guys at elliotwave.com this dollar rally was an expected one because of the developing wave pattern in the Euro/USD pair. More on the wave pattern in the USD/Euro pair
Jim Puplava at FinancialSense.com mentioned in his broadcast this week that he is waiting for the dollar to go a little higher before moving his fund into foreign currencies such as the Euro. Jim Puplava predicted the US dollar to rally during the start of the year.
Marc Faber also predicted the rally in the US Dollar in his December 1st Report, Sell US Stocks and Buy the Dollar.
Both of those sites provide great insight into the FOREX markets that you won't hear in the main stream media.
Of course if your a forex trader knowing when these US dollar rallies are going to occur is great but its worth keeping this US dollar rally in perspective with the long term trend in the US dollar, which the smart money including the likes of Bill Gates and Warren Buffet agrees is down. down.. down!
For more on the coming collapse of the US Dollar read James Turk and John Rubino's book "The Coming Collapse of the Dollar and How to Profit from it.".