Gold Bug Peter Schiff Warns Progress On Inflation Likely To Be Reversed As Dollar Index Falls To Over 1-Year Low
Portfolio Pulse from Shanthi Rexaline
Economist Peter Schiff warns that the dollar index's fall to a 1-year low could reverse progress on inflation. He predicts the index could drop to 90, pushing oil prices above $100 and increasing U.S. import costs. The Invesco DB US Dollar Index Bullish Fund (NYSE:UUP) fell 0.68% to $27.57.
July 14, 2023 | 12:15 pm
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NEGATIVE IMPACT
The Invesco DB US Dollar Index Bullish Fund (NYSE:UUP) fell 0.68% to $27.57. The fund could be negatively impacted if the dollar index continues to fall.
The Invesco DB US Dollar Index Bullish Fund (UUP) tracks the performance of the dollar against a basket of foreign currencies. If the dollar index continues to fall, it could negatively impact the performance of the fund.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100