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For years there has been an inverse relationship between equities and the US Dollar, but never more so than over the last five years. Weekly chart shows the graph of the SPDR S&P Depository Receipts and the Powershares DB US Dollar Bull ETF going back to late 2008 just before the worst of the financial crisis sell-off. Each time the UUP is rising the SPY is at best sluggish and at worst outright bearish.
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