The US Dollar Index was up 0.38 percent last week. Its strength helped bring the price of crude oil down. The dollar still matters enormously. But, as you can see from the chart, it didn’t break any important resistance. It didn’t break its 20-week (the red line) resistance. Even when it did – at the beginning of June – it didn’t hold. And it’s not even near the upper rail of its channel. It’s very hard to see the dollar making a sustained upward move….

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