With a wheezing economy that’s struggling with housing and credit problems - as well as a weak dollar - it’s clear the United States won’t be in the investment spotlight this year.

The US dollar looks set to make a second straight monthly advance against the yen and euro as gains in stocks showed traders are cautiously optimistic the economy may not slide into recession after all.

“The idea that the Fed will continue to cut rates has been completely put to bed and the market is now flirting with the idea of a rate hike. That has given the dollar a boost,” said Alan Ruskin, head of international currency strategy at RBS Greenwich Capital Markets in Connecticut, in Bloomberg. More from that story:

This is the third installment of a new Money Morning series highlighting investment opportunities created by the global bull market in commodities. There’s a classic squeeze going on in the timber markets right now.

In Chicago, gas prices have now topped $4 a gallon. Americans all across the country are struggling to fill up the tank. Companies are even pitching in gas money to help their employees out.

The yuan-dollar peg has gone a long way in ensuring constancy. Chinese economic growth - we would argue, all economic growth - ensues under the auspice of a stable currency. But ties to the greenback have recently come with a price.