With the Federal Reserve surely cutting rates today by at least 75 basis points, the 68.15 target for the U.S. Dollar Index might be within reach. The price of oil looks to have failed at the $111.25 target level, so the idea of buying oil as a dollar hedge might be over for now.
Below are two U.S. Dollar Index charts, one with the 10 year Treasury Yield.
U.S.Dollar Index (click to enlarge)
U.S.Dollar vs. 10 Year Treasury Yield