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https://www.wsj.com/articles/strong-dollar-fuels-pullback-in-commodity-markets-11658223085

Strong Dollar Fuels Pullback in Commodity Markets

Prices of raw materials such as oil, coffee and copper have retrenched

As inflation climbs in the U.S., rising food and energy costs have pushed the nation’s most popular price index to its highest level in four decades. WSJ’s Gwynn Guilford explains how the consumer-price index works and what it can tell you about inflation. Illustration: Jacob Reynolds

How the Consumer-Price Index Measures Inflation — As inflation climbs in the U.S., rising food and energy costs have pushed the nation’s most popular price index to its highest level in four decades. WSJ’s Gwynn Guilford explains how the consumer-price index works and what it can tell you about inflation. Illustration: Jacob Reynolds

and Joe Wallace

July 19, 2022 5:31 am ET

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The bull run in commodity prices is meeting stiff resistance from a surging U.S. dollar.

Prices of oil, metals and agricultural products have tumbled since early June after shooting up in the wake of Russia’s invasion of Ukraine. In part, the recent fall reflects investors’ fears that a demand-busting recession is around the corner. But it is also because most commodities are priced in dollars. That means a rallying dollar makes them more expensive for buyers around the world and drags on demand.

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