The Dollar Index Closed Below 100 on Thursday

The dollar index dropped by two point three percent on the week. We haven't been at this level since May of 2022. That may sound not sound like a lot, but when it comes to foreign exchange for a currency like the dollar, that is a big move. Think about it from this perspective, commodity prices are priced in dollars, at least for now. And so if the dollar goes up by 30 percent, those prices go up by every other country.