“Enjoy it while it lasts” the old saying goes. And much the same can be said about the longevity of the current bounce in the beaten down U.S. dollar. Today’s undeserved jump has been fueled by not one, but two Central bank interventions in as many days, as both Tokyo and Zurich step in to weaken their currencies. To watch video click here

Add to the mix a debt-addicted nation that is still outspending its income by 25%, the high probability of a credit rating cut in the next couple weeks, and the all-but-confirmed reality that the Fed is or will be embarking on a 3rd round of money printing (QE3), and you’ve made yourself a ski slope for the greenback.

“If you really are under the impression that the dollar is going to start showing strength, you’re really being naive,” Todd Schoenberger of LandColt Trading says. “A third round of easing by the Fed will weaken the dollar and obviously means commodities are going higher too.” Schoenberger’s commodity call is not only backed by his expectations of an ever weaker dollar, but also by a predilection for foreign markets and strong demand lead by the Chinese.

However his domestic outlook remains bleak, particularly on the jobs front, with expectations that the unemployment rate will rise to 9.4% when the July payroll data is released on Friday morning. It’s a trend that must be addressed, particularly this late into a flop of a recovery. And printing more money into the system isn’t the solution. For more visit: Yahoo Finance

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