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The Tell: It’s de ja vu all over again for traders as Fed rate hike tilts to December

Currency traders could be forgiven for feeling like they’ve heard this before.

The dollar is echoing its trading pattern from the second half of 2015: Choppy, but tending toward modest strength.

But the buck, as measured by the ICE U.S. Dollar Index DXY, +0.24% isn’t the only market that’s looking strikingly familiar, according to a report from the Institute for International Finance.

In the chart below, the team at IIF compares the dollar’s performance in 2016 with its performance in 2015:

U.S. equities, particularly the S&P 500 index SPX, +0.42% and the Dow Jones Industrial DJIA, +0.39% have seen similarly low volatility, with the CBOE Volatility Index, commonly known as the VIX VIX, -11.13% averaging just over 16.

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