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Markets Jump Higher, Then Pull Back As Dollar Whips

The U.S. Dollar trade continues to thrive as the markets whip up and down in an inverse fashion. The Federal Reserve weak Dollar policy continues to be the number one factor in seeing the Dollar lower almost every day. This helps keep the markets higher.  After early weakness in the Dollar which sent the markets roaring to over five month highs, the Dollar bounced back to the flat line, sending the markets back down slightly, towards their opening levels.  The PowerShares DB US Dollar Index Bullish (NYSE:UUP) is currently trading at $22.39, 0.00 (0.00%) while the markets are off their highs.  The SPDR S&P 500 ETF (NYSE:SPY) is trading at $118.23, +0.36 after hitting a high this morning of $119.09.

Gareth Soloway
Chief Market Strategist