The U.S. dollar index is a basket of six major currencies weighted against the greenback. See on the daily bar chart for the USDX that prices are in a strong uptrend and just hit an 11-month high. The dollar bulls are in strong technical command to suggest still more upside price action in the near term, or longer. The stronger dollar is a bearish element for most of the raw commodity sector, given that most major raw commodities are priced in dollars on the world trade markets. An appreciating dollar makes those commodities more expensive to purchase in non-U.S. currency. Stay tuned!
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