U.S. Dollar quietly surging higher

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U.S. Dollar quietly surging higher and this morning kisses the closing level of July 24th last year, which marked multi-year highs.

U.S. Dollar ( UUP , quote ) level of greater than 84 on the DXY takes you back to July of 2010.  What's different about this move is that this is a Dollar move built in fundamentals, not flight to quality.  Even the move of July 24th last year takes you to the nadir of European Union sentiment right before the European Central Bank went on a verbal offensive to shore up confidence.

This Dollar move is built off rising rates, falling deficit, improved consumer spending and a central bank (Federal Reserve) that will be less accommodative than other central banks into the next couple years...because they can be.


Note chart shows a channel the Dollar is clearly breaking out of but the channel has always been higher off the decade low move.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , International , Stocks

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