The U.S. dollar index is a basket of six major world currencies weighted against the greenback. See on the daily bar chart that the June USDX has recently seen strong selling pressure that pushed prices to a four-week low and negated an uptrend line. Just last week the USDX hit a three-month high. Near-term technical damage has been inflicted upon the USDX, to suggest sideways-at-best trading action in the near term. However, it’s my bias that if the U.S. banking crisis intensifies and contagion worries rise, then the greenback will be sought out by traders and investors as a safe-haven asset to own when the going gets real tough. Stay tuned! Jim Wyckoff