The US dollar is cheap – but it could get cheaper

John Stepek, MoneyWeek's editor, has been asking me to give an update on the US dollar for several months now. And I've consistently replied, "Yes, you're right, John, absolutely" and then gone and written about something else. It's because every time I look at it, it seems so unbelievably cheap, I can't help arguing that it's due a rally. And then it falls even further. And then John emails me again. So in today's Money Morning – unprompted by John – I look at the once mighty US dollar.