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Kensho Stats: When dollar jumps, dump stocks

U.S. dollar close up
David M. Elmore | Getty Images

The Wednesday release of the minutes from the Federal Reserve's last policy meeting caused the dollar to spike by putting a June rate hike back on the table.

The U.S. dollar index, the greenback versus a basket of foreign currencies, is now up more than 2 percent this month. Recent higher oil prices and stronger inflation data have also aided the rally.

Using Kensho, a hedge fund analytics tool, we looked at what happens when the dollar index rose by 5 percent or more in one month during the last decade. The results should serve as a warning to any bulls looking to buy stocks on a dip this week.

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