The U.S. Dollar Index PowerShares DB US Dollar Index Bullish (NYSE:UUP) surged higher this past week as investors moved money out of other currencies and put it back into the dollar. When the week was all said and done the dollar gained $2.48 and made a new high for the year. The rally in the dollar is now 24 weeks long. This type of move higher is a lot of meat and potatoes in the currency world. When the dollar moves higher it will often put pressure on most commodities such as oil, copper, and iron. However, when the dollar declines most of these currencies will inflate and trade higher. Therefore, the movement and direction of the U.S. Dollar has a profound effect on the overall markets. The dollar will now have weekly resistance around the $86.00, and $87.00 levels.
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