Another observation similar to others I've recently posted...

As confidence in European currencies plunges, there’s only so much corresponding dollar strength the Federal Reserve is willing to tolerate. There’s been much talk of rate hikes coming later this year, and that widespread expectation has been priced into the market. Any rhetorical or policy disappointments from the Fed in the months ahead could cause traders to sell the dollar.

Whether later this year or further down the road, it’s only a matter of time before currency turmoil spreads to the United States.

The U.S. has a higher debt-to-GDP ratio than some troubled European countries. It has higher levels of unfunded liabilities (estimated to be in excess of $100 trillion) than any other country. The dollar’s status as world reserve currency has allowed the U.S. to become financially overextended. But that vaunted status is slowly deteriorating as Russia, China, and other countries form economic alliances that bypass the dollar.

https://www.moneymetals.com/news/2015/03/04/currency-turmoil-making-metals-ownership-more-attractive-000676

In other words, IF the Fed raises rates, it will be but by a token amount, and soon to be follow by some other form of currency tinkering designed to increase the speed of money.