Strong dollar hurts Wall Street
While stocks in commodities such as energy and materials producers have been lifting the market for some time now, the stronger dollar has other plans in mind. Since the market has been dependent on commodities, the stronger dollar has caused a fall in commodity prices, in turn reducing support for Wall Street stocks.
While the stronger dollar is a concern for stock markets, it is one among many. Investors are debating what it will take to move the market higher. They had been betting on economic recovery to come, but doubt has now entered the equation. This sense of unease has kept stocks from rising as quickly as they had in the past few weeks.
The US dollar exchange rate is currently at GBP0.61 and EUR0.72
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