The broad-based Commodities Research Bureau index has been a prime beneficiary of the latest bout of dollar weakness, breaking a downtrend yesterday and tacking on an additional 2.7% today. Base metals are recouping some of their recent losses and giving the index an added boost.
Important resistance for the index is just overhead at 260.36, the 61.8% retracement of the 268.80/246.75 decline. A break will only add more pressure on the dollar.
