The dollar index has also had a significant run since July, approximately 7% increase.
Every time the dollar gets strong is a significant headwind for liquidity for the rest of the world (we were able to see this in 2022) due to the huge amount of dollars needed for all types of transactions/debt around the world.
If it continues in its path higher, I expect to continue to put constraints on liquidity.
https://www.tradingview.com/chart/gw6Hf48N/