By Nicholas Santiago on June 16th, 2010 9:38am Eastern Time
This morning the U.S. Dollar Index is higher to start the day by 0.19 cents to $86.17. As we all know by now when the dollar rises the markets deflate and vice versa when the dollar declines the market inflate and rally. The news is really a non-event as the dollar is the key to every move in the market. Commodity and inflationary stocks will be most effected by a strong dollar and today many of these stocks are lower to start the day. Stocks such as Potash Sask Inc (NYSE:POT), Freeport McMoRan Copper & Gold Inc (NYSE:FCX), and the United States Oil Fund (NYSE:USO) are all lower as the dollar is higher today. Should the dollar sell off and decline these stocks should be watched as they could inflate off the morning lows.
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