Dollar Index Looks to Test Highs (UUP)
Tweet
Share
E-mail
The dollar index is climbing today and is nearing June highs at 83.54, currently 83.05. The move higher in the index comes as demand for U.S. assets increases. Yields on U.S. treasuries are significantly lower today, as global investors continue to plow money into U.S. bonds. The increase in the U.S. dollar is driving down commodity prices in early trading on Friday, with most commodity futures well into the red.
If resistance at 83.54 is broken, the price of the USD could test significantly higher into levels not seen in 2 years. PowerShares DB US Dollar Index Bullish (NYSE: UUP) currently trades at 22.86, higher by 0.3 percent intraday on Friday.
If resistance at 83.54 is broken, the price of the USD could test significantly higher into levels not seen in 2 years. PowerShares DB US Dollar Index Bullish (NYSE: UUP) currently trades at 22.86, higher by 0.3 percent intraday on Friday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crude Inventory Rose 3 Million Barrels Last Week - EIA
- SoFi launches new income-focused ETF based on member stock holdings
- Tradr plans two inverse ETFs targeting Oracle and Applied Optoelectronics
Create E-mail Alert Related Categories
ETFs, ForexSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
