Dollar Breakout Confirmed Yesterday
The 77.50 level on the dollar index at 77.50 was breached yesterday. Interest rates are headed higher. Watch the China ETF “FXI”. We have mentioned before that the 43.76 high for this ETF on August 3rd, 2009 has been an important pivot point. On December 8th the market moved below this area and today has broken through the 42.30 October low and currently is trading at 42.00.