The Dollar Index ( UUP , quote ) is making fresh highs on this most recent move and is back to its June 2012 spike.
As Euro fears catalyze new shorts across the EU and in foreign exchange, DXY has room to challenge the 84.00 into the long holiday weekend. A break of 84.00, would not only be a multi-year high in the dollar, but would also leave the currency poised to challenge the 88.50-89.00 level where there is a triple top that has held throughout the European crisis. Remember, as we've said here, the dollar is going through a character change, rallying on both good news and bad. This is something we have spoken about for weeks and is a trend that we will continue to bring up.