Dollar and comodity prices

Bernanke today mentioned that the fed will raise rates, although he did not place an exact time frame on the Fed would do so, we might expect to see a bit of a rally in the dollar. In the coming months I would expect to see oil retreat to the $57-63 range, other comods will also drop in response to a stronger dollar. The trouble in Dubai could be telling of other sovereign wealth funds, many of which bought the high in real estate and piled into some inflated private equity deals. Those with oil, that run short on cash to meet interest payments, will be more than happy to flood the market to generate some cash and help depress future oil prices.