We tend to forget that every merchandise is a pairs trade. It's but that nosotros tend to proceed the denominator constant, inwards local currency. The fact remains, however, that an property shape tin post away ascent either because it is rigid against all currencies, because the local currency is weak, or both. Lately, commodities convey been hitting novel highs (top chart; DBC) equally the bullish the US dollar index ETF (UUP; bottom chart) has been hitting novel lows. Reflation seems to last the topic of the moment; I am closely tracking its deport on upon involvement rates in addition to stocks.
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