At this rate it hits 1600 by Mon or Tues. I do buy the scenario - dollar will fall, gold and most other commodities will rise. But the pace of this is getting scary. A stair step move would be more sustainable. This could lead to a deeper, longer pullback.

I think the Fed has more tricks up its sleve. Seems they want a lower dollar, but it's unlikely they want the dollar to collapse as fast as this. They might do something to stop the bleeding - perhaps in concert with other central bankers.