— Greg Rieben (@gregrieben) July 5, 2022
Today’s Chart of the Day was shared by Greg Rieben (@gregrieben). Today was the best day for the US Dollar Index since 2020, rising to its highest level in 20 years. Dollar strength is generally a headwind for risk assets including Stocks, Commodities, and Crypto. It has been rising all year, but now it’s breaking out of a five-year base. You know what they say about big bases… “The bigger the base, the higher in space.” If the Dollar continues to move north, we’ll likely see further pressure on risk assets.