Monday, June 30, 2008

USD Grinds Modestly Higher

After a steady and almost-uninterrupted downtrend for nearly three weeks, the US Dollar is grinding slightly higher today. It is happening with some force, as the far right edge of this chart seems to demonstrate. This is hardly the sign of a reversal, but it is good news, and may have contributed to the broad selling of several major commodities today. Go Dollar!