“The U.S. dollar is, for lack of a better phrase, the best house in a bad neighborhood,” adds David Urban at Seeking Alpha.
UUP, the dollar ETF, climbed to a new 52-week high of $22.86 a share on Tuesday.
“The recent ‘pop’ higher has the dollar on the edge of a technical breakout. And further, with the equity and debt markets battling uncertainty, the direction the dollar takes over the coming weeks/months will be important to the ongoing 2012 domestic and global market theme,” wrote Anderw Nyquist at Minyanville on Tuesday.
“Over the past month, the dollar has stealthily pushed higher into important resistance, flooring commodities, hitting equities, and adding a strong whiff of deflation to the air,” he added. [Safe-Haven Currency ETFs Shine in Euro Crisis]
PowerShares US Dollar Index Bullish
